An agreement to restructure obligations owing to the US Export-Import Bank has been reached by Ghana.

Ghana’s efforts to restore debt sustainability under its post-crisis reform program have advanced with the signing of a bilateral agreement with the US to restructure commitments owed to the US Export-Import Bank.

Targeting outstanding liabilities associated with the US EXIM Bank, the deal was reached under the Official Creditor Committee framework and is anticipated to alleviate short-term external debt servicing constraints.

In the wake of the 2022 debt default and subsequent involvement with the International Monetary Fund, Ghana is negotiating a wider range of bilateral agreements with official creditors.

Source: newsthemegh.com