Ghana is now ready to go to the IMF Board - Ofori-Atta declares

Finance minister Ken Ofori-Atta has declared Ghana's readiness to go to the International Monetary Fund (IMF) Board as it pushes for a US$3 billion Extended Credit Facility.

The Paris Club and other major partners, this week, announced that it was giving financing assurances to allow Ghana receive the facility.

Reacting to the development via his official Twitter handle, the minister wrote: "The Paris Club has today established the OCC (co-chaired by China & France). With the granting of Financing Assurances, Ghana is now ready to go to the IMF Board.

"Thank you to all our bilateral partners for helping us reach this significant milestone!"

Ghana has in the last few months struggled to get IMF Board approval despite getting a Staff-Level Agreement in place since late last year.

A domestic debt restructuring deal dragged on for months before the external restructuring also experienced challenges.

See the Minister's tweet below:

The Paris Club has today established the OCC (co-chaired by China & France). With the granting of Financing Assurances, Ghana is now ready to go to the IMF Board. Thank you to all our bilateral partners for helping us reach this significant milestone! #ResolvingTogether

— Office of the Finance Minister-Ghana (@oofmghana) May 12, 2023