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Ghana ready to head to IMF Board for bailout

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The Ministry of Finance has revealed that Ghana has met the necessary requirements to obtain a bail out from the International Monetary Fund (IMF) Board.

The Paris Club and China last week announced that it would financing assurances to allow Ghana receive the facility.

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The Finance Ministry took to Twitter to announce the good news.

“The Paris Club has today established the OCC (co-chaired by China & France). With the granting of Financing Assurances, Ghana is now ready to go to the IMF Board,” the Ministry wrote.

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The Finance Ministry further expressed appreciation to its bilateral partners for helping Ghana reach this “significant milestone!”

Ghana struggled to get IMF Board approval despite getting a Staff-Level Agreement in place since late last December.

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A domestic debt restructuring deal dragged on for months before the external restructuring also experienced challenges.


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