The Governor of the Bank of Ghana (BoG), has indicated that discussions took place with the recently concluded IMF Mission team concerning the ramifications of the Domestic Debt Exchange Programme (DDEP) and its impact on the central bank's financial position.

The central bank's annual financial statements for 2022 revealed a total loss of approximately GH¢60.8 billion, resulting in a negative equity of GH¢55.12 billion compared to a positive equity of GH¢5.7 billion in the previous year. These losses have been partially attributed to the government's DDEP, which significantly affected the balance sheet during the period.

To tackle this issue, Dr. Ernest Addison disclosed that there was a mutual understanding reached regarding the early recapitalization of the Bank of Ghana, with plans to sign a Memorandum of Understanding (MoU) with the Ministry of Finance for this purpose.

Speaking at a joint press conference involving the IMF, Finance Ministry, and BoG held in Accra on April 13, 2024, Dr. Addison announced that Ghana had successfully reached a staff-level agreement with the IMF for the second review of the 17th bailout program.

Furthermore, Dr. Addison mentioned that discussions had progressed regarding the government's external debt restructuring program, with ongoing negotiations involving commercial creditors, bondholders, and bilateral creditors.