Business

Ghana seeks $2.5bn in external financing through debt restructuring

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The Chief Executive Officer (CEO) of the Ghana Investment Promotion Center (GIPC), Yofi Grant, has revealed that Ghana is set to undergo external debt restructuring, which is expected to provide financing of approximately $2.5 billion in the coming days.

The announcement was made as the GIPC indicated that negotiations with key partners are nearing a conclusion by the end of the week.

The CEO emphasized that the current fiscal gaps would be addressed through external financing measures, including an anticipated $3 billion agreement with the International Monetary Fund (IMF) and the aforementioned debt restructuring.

“With the current fiscal gaps, we anticipate external financing for the budget through the anticipated $3 billion agreement with the IMF. Additionally, we are working on some external debt restructuring to provide financing of approximately $2.5 billion.”

“We anticipate concluding negotiations with our other key partners tomorrow to further enhance our financial position,” he added.

Source: Citinews

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