Ghana qualified for a $918 million IMF programme in 2015 and has applied for a $3 billion bailout in 2022 awaiting approval.
Unlike our 16th enrolment in 2015, Ghana’s current unsustainable debt levels will certainly be a huge obstacle in obtaining a deal. A lot of conditions must be met.
According to the International Monetary Fund, “In cases where a country’s debt is assessed as unsustainable, the IMF is precluded from providing financing unless the member takes steps to restore debt sustainability, including by seeking a debt restructuring from its creditors. The IMF and World Bank still need to conduct a thorough update of the debt situation through a new Debt Sustainability Analysis (DSA), which will then be presented to our Executive Board when it considers the authorities’ program request.”.
The infographic below compares the status of some selected economic indicators in 2015 when government applied for a bailout to that of 2022.
Latest Stories
-
Syria’s minorities seek security as country charts new future
24 minutes -
Prof. Nana Aba Appiah Amfo re-appointed as Vice-Chancellor of the University of Ghana
31 minutes -
German police probe market attack security and warnings
31 minutes -
Grief and anger in Magdeburg after Christmas market attack
32 minutes -
Baltasar Coin becomes first Ghanaian meme coin to hit DEX Screener at $100K market cap
1 hour -
EC blames re-collation of disputed results on widespread lawlessness by party supporters
2 hours -
Top 20 Ghanaian songs released in 2024
2 hours -
Beating Messi’s Inter Miami to MLS Cup feels amazing – Joseph Paintsil
2 hours -
NDC administration will reverse all ‘last-minute’ gov’t employee promotions – Asiedu Nketiah
2 hours -
Kudus sights ‘authority and kingship’ for elephant stool celebration
2 hours -
We’ll embrace cutting-edge technologies to address emerging healthcare needs – Prof. Antwi-Kusi
3 hours -
Nana Aba Anamoah, Cwesi Oteng special guests for Philip Nai and Friends’ charity event
3 hours -
Environmental protection officers receive training on how to tackle climate change
3 hours -
CLOGSAG vows to resist partisan appointments in Civil, Local Government Service
4 hours -
Peasant Farmers Association welcomes Mahama’s move to rename Agric Ministry
4 hours