Ghana Opposition Holds Key to Expedited IMF Funding Deal
- Government is considering restructuring the nation’s debt
- Opposition says burden of reorganization must be evenly shared
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Ghana’s plan to access as much as $3 billion in funding from the International Monetary Fund and regain access to capital markets runs the risk of being delayed by political opposition.
An IMF mission is due to conclude an 11-day visit to Ghana on Oct. 7 to assess the state of the West African nation’s public finances. Should the Washington-based lender deem that its 393.4 billion cedis ($38 billion) of debt is unsustainable, the authorities will have to take remedial action, including restructuring its liabilities, to qualify for assistance, the IMF said last week.