Ghana's Debt Restructuring Must Go Hand-in-Hand With Managing Finances Better TC_Africa: Ghana
, conducted in mid-2021, classified the country as being at high risk of external debt distress and overall debt distress. The assessment was carried out jointly by the IMF and the World Bank.
If the new assessment concludes Ghana's debt levels aren't sustainable, the country will have to take steps to restructure its debt to qualify for IMF assistance. The Fund that it won't lend to countries that have unsustainable debts unless the member takes steps to restore debt sustainability, which can include debt restructuring.with all its external lenders, including bilateral and commercial creditors, as a pre-condition for accessing IMF funding. The process lasted almost two years.Firstly, the restructuring of its debt. Here a good option would be to restructure its external debt as well as some limited domestic debt restructuring.
And secondly, it needs urgently to take six steps on the domestic front to get its financial house in order. This includes putting an end tostate-owned enterprisesGhana's total public debt as of June 2022 was US$54.4 billion from US$32.3 billion in 2017, according to
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