Ghana is facing multiple financial and economic challenges and has requested a US$3 billion bailout from the International Monetary Fund (IMF) to help it restore macroeconomic stability. This will include bringing public debt down to more manageable levels from the currently estimated 105% of GDP to 55% in present value terms by 2028.
IMF assistance, which is yet to be approved by the fund’s executive board, is conditional on Ghana restructuring its public debt – domestic and external – which in turn requires the buy-in of bondholders. This means that those who lent money to the government by buying bonds will have to agree to the restructuring, such as a longer repayment period. Read more