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Bond Market News
Ghana Reaches Staff Level Agreement with IMF for $360mn
April 15, 2024
Ghana reached a staff level agreement with the IMF to conclude the second review of its three year bailout program under the Extended Credit Facility (ECF) arrangement. Once the IMF’s management and executive board approves the review, Ghana will have access to about $360mn of funds by June. The approval is dependent on Ghana reaching an agreement with its official bilateral creditors on an MOU consistent with the terms agreed earlier this January, as per the statement released by the IMF.
Ghana’s dollar bonds traded stable with its 7.875% 2027s at 51.2 cents on the dollar.
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