Mr Abebe Aemro Selassie, Director, African Department of the International Monetary Fund, has said the government of Ghana "is in good faith discussions with their creditors, and we hope that there will be an outcome". 

"I should add here that the fact that they have not reached agreement with their Eurobond holders will not prevent us from being able to provide more financing, although reaching that agreement is, of course, important", Mr Selassie stressed.

He said as of now, "There is no MoU with bilateral creditors," as far as Ghana’s negotiation with them in terms of the debt restructuring is concerned.

"But we know that there have been intensive discussions in recent weeks and those are continuing, and we are very hopeful that there will be an agreement with bilateral official creditors", Mr Selassie told journalists on 19 April 2024 at a press briefing.

He added: "To be clear, they have provided financing assurances though, and that remains in effect."

"And, so, we are not envisaging that it will be an issue for our ability to conclude the next review and provide the disbursement that is pending," he noted. 

"As we noted, we have reached staff level agreement, and that is by far the most important component for the review," he mentioned.

With respect to commercial creditors, Mr Selassie said: "I think we are grateful that the government shared with us some of the terms that are under consideration." 

"Staff has provided an input on whether these terms were consistent with programme parameters, and the government has decided that they would not pursue this deal just yet." Again, he said: "I think we are very hopeful that there will be movement and that they can reach agreement consistent with the programme parameters, helping lower Ghana's debt burden at the right level and avoiding, of course, people of Ghana having to make too much sacrifice".