Ghanaian Finance Minister Ken Ofori-Atta on Friday announced that the country has been granted financing assurance by its official creditors, a critical step further to secure a loan from the International Monetary Fund.
“With the granting of financing assurances, Ghana is now ready to go to the IMF Board,” the minister said in a tweet on his office’s official Twitter handle. “Thank you to all our bilateral partners for helping us to reach this milestone.”
Ghana has since 2021 been grappling with its worst economic performance in decades. The government started negotiation with the IMF last year, hoping to secure a 3-billion-U.S.-dollar loan to revive its economy.
According to the IMF, the financing assurances from Ghana’s official creditors are the final condition for considering the loan request. Enditem