Ghana on Track to Win IMF Approval for Eurobond Revamp
- New debt sustainability analysis gets to IMF Board by end-June
- Faster economic growth probably helped attain a debt target
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Ghana’s plan to restructure $13 billion of Eurobond debt, rejected last month by the International Monetary Fund, is back on track, thanks to stronger-than-expected economic growth in the West African nation.
The IMF informed Ghana in April that its proposal did not meet a key debt sustainability requirement. But 2023 growth was almost double the level forecast by the Washington-based lender, moving the needle for a fresh debt assessment being prepared by the fund.