The International Monetary Fund (IMF) has appealed to countries especially bilateral creditors to aid Ghana in restructuring her debt in an attempt to secure a bailout from the IMF board.
The Head of Communications at the IMF, Julie Kozack emphasized that it is very important for the country to secure financial assurances from her bilateral creditors because without this, Ghana cannot present her program request to the Bretton Woods Institutions.
“We are appealing to all bilateral creditors to support Ghana in her bid to restore debt sustainability,’’ Kozack noted in a virtual press conference in the USA monitored by 1Family Radio.
She furthered, “although the fund is engaging with the government of Ghana on the progress made on its request, the fund is also seeking assurances from Ghana’s bilateral creditors.’’
According to her, the self-imposed deadline of March ending by the government of Ghana has helped her complete most of the procedures in time.
“A self-imposed deadline of March ending has allowed Ghana complete most its prior actions in record time, the Domestic Debt Exchange Program inclusive.”
“Although the approval of the board cannot occur before the end the March, the self-imposed deadline by the government has enabled expeditious progress in all areas, and this has made the board approval highly likely within the next or two months from now,’’ she added.