Ghana, West Africa’s second largest economy is expecting the conclusion of its debt restructuring agreement this January to pave way for an injection of US $1.15 billion from the IMF and the World Bank. The sum consists of another tranche of US $600 million of the country’s 36-month US $3 billion extended credit facility with the IMF reached in May 2023, and US $550 million budgetary support and financial stability fund from the World Bank, according to Bloomberg. Ghana was the second African country to default on its debt since Covid – 19, after Zambia. Ethiopia defaulted two weeks ago. After the default, the IMF board approved a 36-month US $3 billion extended credit facility in May 2023. So far, US $600 million has been disbursed. Also, the IMF is disbursing US $60.7 million to Mozambique after conclusion of the third review of its US $456 million extended credit facility programme agreement reached in 2022. So far, US $273 million has been disbursed.
