The International Monetary Fund (IMF) and Ghana are expected to announce a staff-level agreement on a loan deal today, Tuesday, December 13.
The agreement will be made known at a joint press conference at 10 am Tuesday by the two parties.
This will pave the way for the Board of the Fund to consider and possibly approve a programme for the country.
Ghana in July turned to the IMF for a $3 billion three-year period bailout as the economy faces its worst crisis in the last twenty years.
West African nation has said it needs the deal by the end of the year.
A visiting IMF team led by Stéphane Roudet, Mission Chief for Ghana, has been in the country since December 1, to continue discussions with Ghanaian authorities on the country’s post-COVID-19 programme for economic growth and associated policies and reforms that could be supported by a new IMF lending arrangement.
The government has begun restructuring its debt by rolling out a plan to swap $10.5 billion in local bonds with new ones, a move which has been met with stiff resistance by the organised and the public.
Meanwhile, the Ghanaian Cedi was last week recorded as the best-performing currency in the world.