Update Re Possible Debt Operations – Ministry of Finance
Following discussions with the International Monetary Fund, the government claims that technical work on the country’s potential debt operations has not yet been completed (IMF).
The terms of principle payments and interest on the public debt
The terms of principle payments and interest on the public debt are still being considered, the Ministry of Finance notes in a statement released on Thursday, November 24, 2022, not long after the sector minister presented the 2023 Budget.
A section of the statement reads
“As stated in the Budget Speech by the Honourable Minister for Finance, Ken Ofori-Atta, the Government of Ghana is contemplating a debt operation aimed at alleviating the pressures on the national budget and restoring debt sustainability.
This would also open up financing streams and provide needed balance of payment support from the Fund.
Details of the different layers of a debt operation, including the terms of principal payments and interest on the public debt, are still being discussed, taking into account principles of debt sustainability and international best practices.
All measures will be communicated by the Ministry of Finance in due course.
The Government of Ghana reiterates its commitment to rolling out a lasting solution to the current economic challenges, with the ultimate goal of restoring macroeconomic stability and anchoring debt sustainability”.
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