Ghana Gets Debt-Relief Terms, Enough for IMF’s $600 Million
- Term sheet enables IMF to make second disbursement to nation
- Ghana’s bilateral debt-rework talks entail $5.4 billion
The International Monetary Fund headquarters in Washington, DC.
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Ghana has received a draft term sheet on debt relief from its official creditors that is sufficient for the International Monetary Fund to disburse $600 million to the West African nation, Finance Minister Ken Ofori-Atta said.
The term sheet from the Paris Club Group of creditors and new ones including China comes after months of negotiations to restructure as much as $5.4 billion of bilateral debt. The IMF board is expected to meet in a week.