Ghana’s official creditors are convening today to discuss the restructuring of approximately $5.4 billion in loans.

Ghana failed to meet the IMF’s November 2022 timeline for the disbursement of the second tranche of the $600 million IMF bailout.

This was due to the country’s inability to reach a debt treatment agreement with official creditors, aligning with the financing assurances provided in May 2023.

China and France’s governments, working in tandem and leading the Official Creditor Committee, are among the lenders involved. Collectively, they hold about a quarter of Ghana’s $20 billion debt slated for restructuring.

Prior to the meeting, an Associate Professor of Finance at Andrews University in South West Michigan, Williams Peprah emphasized the importance for Ghana to present a compelling argument regarding the necessary amount for successful debt restructuring during the session