Posted 1/6/2024, 2:17:58 PM
Ghana Awaits $1.15 Billion in IMF and World Bank Funding by February, Contingent on Debt Relief Progress
- Ghana expecting $1.15 billion from IMF and World Bank by end of February
- Funding contingent on agreement with bilateral creditors on debt restructuring terms
- IMF approval will trigger $600 million bailout disbursement and $550 million from World Bank
- World Bank providing $300 million budget support and $250 million for financial stability fund
- Ghana defaulted on $28.4 billion external debt in September 2023 after failing to meet repayment obligations