Ghana's official creditors are set to meet on Monday, January 8, to discuss the restructuring of approximately $5.4 billion in loans, according to Reuters.
This marks a critical step toward securing the next tranche of funding from the International Monetary Fund (IMF), according to three sources informed Reuters.
The Official Creditor Committee (OCC), co-chaired by the governments of China and France, who are among the bilateral lenders, holds around 25% of Ghana's $20 billion external debt earmarked for restructuring.
The upcoming meeting is expected to focus on reaching an agreement regarding a "cut-off date," determining the point after which new loans from bilateral creditors will not undergo restructuring, sources familiar with the matter revealed.
This specific date has become a stumbling block in Ghana's debt restructuring process.
Some creditors advocate for December 31, 2022, as the cut-off date, citing Ghana's default earlier that month, while others support March 24, 2020, the date when the Group of 20 introduced the debt service suspension initiative (DSSI) to aid the world's poorest countries during the COVID crisis.
Source: myjoyonline.com
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If you knew you are speaking to yourself and not the good people of Ghana, you will stop saying things about IMF. Today, Ghana is no longer a proud nation as you made people to believe? When you told a gathering somewhere that " what ever it takes, we are not going to the IMF, we are a proud nation, we have the capacity and the resources" ,the gathering clapped their hands for you no knowing you were making fun of them. Today nobody takes you serious when you speak including your own party people. Some mute their TV sets when they see you appear, because they know that you are one of those who closes the doors of your kraal before the cattle enters the kraal. You said you don't take salary as a minister, you stay in your own house, uses your own vehicles, travel on official assignments using your own resources but when your own party MP's numbering over 100 asked for your reshuffle from the finance ministry due to the havoc you were and still causing, chinchinaaa, you don't want to leave. Where in this world have you seen someone genuinely sacrificing for his people and when they said they are not happy with him, he insists on sacrificing for them despite the insults and disgrace from Adongo right your presence in parliament with the whole world watching. Hahahaaaa, something dey ministry of finance. One day, we will all know what is there in the ministry of finance. It's just a matter of time. As the saying goes " Time will tell "