The discussions with the authorities will also continue in the weeks ahead, including during the upcoming Annual Meetings that will be convened at IMF headquarters.”The IMF team as part of their visit to Ghana engaged stakeholders such as the Bank of Ghana, Parliament, business associations and civil society groups. The conclusion of the mission for the IMF team comes after Ghana’s credit was downgraded to junk status by the rating agency, Fitch. Interest costs on external debt are lower than for domestic debt and near-term external debt amortisations appear manageable. Interest payments on domestic debt comprise around 75% of total interest costs. We estimate Ghana faces around USD3 billion of external debt service costs in 2023, including amortisation and interest."

Source: GhanaWeb October 08, 2022 09:05 UTC