Ghana has maintained the top spot among African countries as the most highly indebted country to the International Monetary Fund (IMF). The development comes after Ghana’s loans from the Fund soared by 35.3 percent in the second quarter of 2023. The recent figure represents $451 million SDR which is higher than the previous figure of 1.246 billion SDR recorded as of April 30, 2023. The IMF report further pointed out that Ghana’s outstanding loans is 9.55 percent of Africa’s total of SDR 17.68 billion. Meanwhile, the Democratic Republic of Congo was the second country in Africa behind Ghana to be ranked as the most highly indebted to the IMF.

Source: GhanaWeb September 19, 2023 13:40 UTC