Posted 1/26/2024, 12:09:58 PM
Ghana Pursues Debt Restructuring to Restore Fiscal Sustainability Amid Rising Debt Levels
- Ghana remains in debt distress with debt levels unsustainable according to IMF
- Debt restructuring program is ongoing to bring debt to sustainable levels
- Deterioration of fiscal and external positions due to COVID-19, global conditions, and Ukraine war led to loss of market access
- Public and external debt increased significantly as a share of GDP from 2019 to 2022
- Authorities implementing comprehensive debt restructuring to achieve sustainability and moderate risk of debt distress