Ghana targets $10.5b of external debt service relief in 2023-2026: IMF | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Wednesday
July 09, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
WEDNESDAY, JULY 09, 2025
Ghana targets $10.5b of external debt service relief in 2023-2026: IMF

Global Economy

Reuters
18 May, 2023, 05:40 pm
Last modified: 18 May, 2023, 05:59 pm

Related News

  • Negative reporting forced govt to clarify NBR reform plans to IMF: Finance adviser
  • Separation of NBR crucial to boost revenue collection: IMF
  • Record $30b remittance lifts reserves to $26b
  • IMF lowers Bangladesh's GDP growth for FY26 to 5.4%
  • Bangladesh passes IMF test, gets $1.3b lifeline

Ghana targets $10.5b of external debt service relief in 2023-2026: IMF

Reuters
18 May, 2023, 05:40 pm
Last modified: 18 May, 2023, 05:59 pm
FILE PHOTO: A girl walks past a flag of Ghana outside the Cape Coast Castle, in Ghana, July 28, 2019. REUTERS/Siphiwe Sibeko
FILE PHOTO: A girl walks past a flag of Ghana outside the Cape Coast Castle, in Ghana, July 28, 2019. REUTERS/Siphiwe Sibeko

Ghana is targeting $10.5 billion of external debt service relief from 2023-2026, the International Monetary Fund said, giving first indications of how big a hit investors might face in the coming debt overhaul.

The embattled West African country's debt is currently unsustainable, but Ghana aims to restore it to a "moderate" risk of debt distress by 2028, the fund added in its Debt Sustainability Analysis.

The IMF's executive board approved a $3 billion, three-year rescue loan on Wednesday, paving a potential path for Ghana out of the worst economic crisis in a generation.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Ghana is overhauling its debt after its already strained finances buckled under the economic fallout from Covid-19 and Russia's invasion of Ukraine. It is seeking external debt relief under the Group of 20's Common Framework platform and completed a domestic debt exchange earlier this year.

Ghana has a $15 billion financing gap in its balance of payments from 2023 to 2026, the IMF said, with the World Bank set to provide $1.6 billion in budget and balance-of-payments support.

The country has a medium "debt carrying capacity", which means the IMF requires Ghana to target bringing its public debt-to-GDP ratio from 88.1% at the end of 2022 to 55% by 2028.

The cedi currency strengthened 2.4% against the U.S. dollar to 10.30 on the news, taking its rise so far this month to 12.24% as international investors anticipated IMF board approval GHS=.

Most of Ghana's sovereign dollar-denominated bonds strengthened modestly on Thursday, with some rising as much as 0.3 cents in the dollar although still trading at deeply distressed levels of between 36 and 41 cents in the dollar XS2115141751=TE.

"Domestic policy slippages represent a significant downside risk to the projections, further compounded by risks associated to the end-2024 general elections," the IMF report said.

Other risks for Ghana include social unrest if economic conditions do not improve for the population, not regaining market access to issue debt and the domestic debt exchange posing dangers to domestic financial sector stability, the fund said.

Top News / World+Biz / Africa

Ghana / IMF / Debt relief

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Workers pack undergarments at the packing section of a garment factory in Ashulia, on the outskirts of Dhaka, Bangladesh, April 19, 2025. Photo: REUTERS/Fatima Tuj Johora
    After US tariffs, jobs hang by a thread in Bangladesh's garments sector
  • Finance Adviser Saluhuddin Ahmed spoke at a post-budget press conference at Osmani Auditorium in the capital today (3 June). Photo: Rajib Dhar/TBS
    Many obstacles in financial sector reforms, not only driven by IMF, World Bank: Finance adviser
  • The photo was taken in Jatrabari on 18 July 2024. Photos: Mehedi Hasan/TBS
    Jatrabari horror: BBC reveals police role in killing protesters during 2024 July Uprising

MOST VIEWED

  • None saw it coming: What went wrong in Bangladesh’s tariff negotiation with US 
    None saw it coming: What went wrong in Bangladesh’s tariff negotiation with US 
  • File Photo: Rajib Dhar/TBS
    Bangladesh faces economic impact as US introduces 35% tariff on exports
  • Representational image. Photo: Collected
    Bangladesh reserves above $24b even after making $2b ACU payment 
  • Electric buses for capital: Tk2,500cr to be spent in 2 years
    Electric buses for capital: Tk2,500cr to be spent in 2 years
  • Representational image. Photo: TBS
    35% US tariff to be disastrous for Bangladesh's exports, say economists and exporters
  • Clashes took place between police and protesters in Sylhet on 2 August. Photo: TBS
    Hasina authorised deadly crackdown on protesters during 2024 July uprising, BBC verifies leaked audio

Related News

  • Negative reporting forced govt to clarify NBR reform plans to IMF: Finance adviser
  • Separation of NBR crucial to boost revenue collection: IMF
  • Record $30b remittance lifts reserves to $26b
  • IMF lowers Bangladesh's GDP growth for FY26 to 5.4%
  • Bangladesh passes IMF test, gets $1.3b lifeline

Features

Dr Mostafa Abid Khan. Sketch: TBS

Actual impact will depend on how US retailers respond: Mostafa Abid Khan

1d | Economy
Thousands gather to form Bangla Blockade in mass show of support. Photo: TBS

Rebranding rebellion: Why ‘Bangla Blockade’ struck a chord

1d | Panorama
The Mitsubishi Xpander is built with families in mind, ready to handle the daily carpool, grocery runs, weekend getaways, and everything in between. PHOTO: Akif Hamid

Now made-in-Bangladesh: 2025 Mitsubishi Xpander

2d | Wheels
Students of different institutions protest demanding the reinstatement of the 2018 circular cancelling quotas in recruitment in government jobs. Photo: Mehedi Hasan

5 July 2024: Students announce class boycott amid growing protests

4d | Panorama

More Videos from TBS

Not only Hasina but also Awami League should be tried: Mirza Fakhrul

Not only Hasina but also Awami League should be tried: Mirza Fakhrul

14m | TBS Today
Trump considering sanctions on Russia

Trump considering sanctions on Russia

1h | TBS World
Iran receives missile shipment from China

Iran receives missile shipment from China

3h | TBS World
Will JPA be able to survive in the political arena?

Will JPA be able to survive in the political arena?

16h | TBS Stories
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net