Finance Minister Reveals $5.4bn Debt Received By Government

The Minister of Finance, Dr. Mohammed Amin Adam Discloses That Government Receives $5.4bn Debt

The Government of Ghana received a draft directive of understanding from the Official Bilateral Creditor Committee co-chaired by France and China, representing the final step in the country’s consultations with its bilateral creditors to restructure $5.4 billion of its bilateral debt.

The Minister of Finance, Dr. Mohammed Amin Adam discloses at a news conference that it is expected to pave the way for the release of the third tranche of $360 million from the International Monetary Fund (IMF) as part of the fund’s extended facility program with the government of Ghana.

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Dr. Amin says, the government with support from its financial and legal advisors, reviews MoU to finalize and sign the agreement with the creditor committee as soon as possible.

The signing of the MoU will pave the way for the Executive Board of the International Monetary Fund (IMF) to approve the second review of the country’s three-year program with the fund.

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