Bilateral creditors share draft MOU for Ghana’s debt restructuring – Amin Adam

Finance Minister Dr Mohammed Amin Adam has disclosed that the bilateral creditors, through the Official Creditor Committee, have distributed the draft document outlining Ghana’s debt restructuring to its members for review and deliberation.

“The Official Creditor Committee has shared the draft document with their members and as soon as they share the document with us and we are okay with that, then we have an agreement.”

Dr Amin Adam said this at the press conference in Washington DC USA on the sidelines of the IMF/World Bank Spring Meetings.

He added, “The IMF is not asking for a deal from the Bilateral Creditors before it goes to the board, but rather an agreement on the wording of the MOU and that will be sufficient for the IMF to go to its board.”

The IMF has also commended Ghana’s performance under the programme, describing it as “strong”, projecting a single-digit inflation rate of 8% for Ghana by the end of 2025, in line with the government’s target for the same period.

Additionally, the IMF forecasts a growth rate of 4.4% for Ghana by the end of 2025. In its Global Economic Outlook, the IMF predicts Ghana will end 2024 with a growth rate of 2.8%, similar to the government’s forecast in the 2024 budget.

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