• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, July 29, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Ghana Secures Debt Deal, Paving Way For $600m IMF Payment

by Leadership News
2 years ago
in News, Business
Ghana
Share on WhatsAppShare on FacebookShare on XTelegram

Ghana has successfully concluded negotiations with external creditors regarding a debt restructuring crucial to securing its $3 billion credit line from the International Monetary Fund (IMF), the West African country and the IMF announced on Saturday.

Advertisement

The deal with external creditors clears the path for a vital $600 million 2nd tranche payment from the Fund to Ghana, which secured the $3 billion IMF loan in 2023 to bolster its finances and tackle its mountainous debt burden.

The first tranche of $600 million arrived in May 2023, with subsequent releases contingent on progress in debt restructuring.

Facing one of its most severe economic crises in decades, Ghana sought financial assistance from the IMF to bolster its public finances and manage its substantial debt burden more effectively.

The state of Ghana’s economy is expected to be a focal point in the run-up to the December presidential election, during which President Nana Akufo-Addo’s New Patriotic Party will vie for an unprecedented third term.

RELATED

Correctional Service, REA Sign Pact To Enhance Power, Vocations For Inmates

Correctional Service, REA Sign Pact To Enhance Power, Vocations For Inmates

1 hour ago
Fire Destroys 10 Shops In Adamawa

Residents Protest ‘Killing’ Of 20 Villagers In Katsina

1 hour ago

In a statement late Friday, the Finance Ministry termed this development as a “significant positive step towards restoring Ghana’s long-term debt sustainability.”

Last year, Ghana undertook a restructuring of its domestic debt, and due to challenges in addressing its substantial balance of payments deficit, it suspended payments on the majority of its external debt, essentially defaulting.

The debt restructuring parameters encompass both bilateral and commercial debt, including Eurobonds.

IMF Managing Director Kristalina Georgieva welcomed the agreement, stating that it aligns with the goals of the IMF-supported program, aiming to restore macroeconomic stability and debt sustainability. She mentioned that the deal clears the path for the IMF Executive Board to consider the first review of Ghana’s three-year agreement “in the next few days.”

 

The Ghanaian government anticipates that the IMF Board’s approval will also prompt the World Bank Board to review $300 million in development financing for the country.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




Tags: GhanaIMF
SendShareTweetShare
Previous Post

Konga, Apple Partner To Enhance Product Authenticity

Next Post

‘The Delborough’ Competes Easily With Global Brands — Dele Momodu

Leadership News

Leadership News

You May Like

Correctional Service, REA Sign Pact To Enhance Power, Vocations For Inmates
News

Correctional Service, REA Sign Pact To Enhance Power, Vocations For Inmates

2025/07/28
Fire Destroys 10 Shops In Adamawa
News

Residents Protest ‘Killing’ Of 20 Villagers In Katsina

2025/07/28
2027: Ex-Govs Fayose, Adebayo, Oni, Others Endorse Tinubu, Oyebanji For Second Term
News

2027: Ex-Govs Fayose, Adebayo, Oni, Others Endorse Tinubu, Oyebanji For Second Term

2025/07/28
Patients Stranded As Lagos Doctors Begin 3-Day Warning Strike Over Salary Deductions
News

Patients Stranded As Lagos Doctors Begin 3-Day Warning Strike Over Salary Deductions

2025/07/28
Japa: Medical Schools’ Bid To Double Students’ Intake Under Threat
Health

Nurses, Midwives To Begin 7-Day Warning Strike Tuesday

2025/07/28
Insecurity Threatens FCT Doctors’ Response To Emergencies —NMA
Health

NMA Gives Federal Gov’t 21-Day Ultimatum Over Unmet Demands

2025/07/28
Leadership Conference advertisement

LATEST

Correctional Service, REA Sign Pact To Enhance Power, Vocations For Inmates

Residents Protest ‘Killing’ Of 20 Villagers In Katsina

2027: Ex-Govs Fayose, Adebayo, Oni, Others Endorse Tinubu, Oyebanji For Second Term

Patients Stranded As Lagos Doctors Begin 3-Day Warning Strike Over Salary Deductions

Nurses, Midwives To Begin 7-Day Warning Strike Tuesday

NMA Gives Federal Gov’t 21-Day Ultimatum Over Unmet Demands

Makinde Allocates 1,000 Hectares Of Land To Curb Illegal Migration

By-election: Abas Urges Residents To Vote APC In Ibadan North

Residents Reject Oyo Govt’s Plan To Extend Rashidi Ladoja Circular Road

Nigeria Loses ₦17.9trn Yearly To Hepatitis — Minister

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.