Ghana Secures Debt Restructuring Deal with Bilateral Creditors
Ghana has signed an MoU with its bilateral creditors, including China and France, to restructure $5.4 billion of debt. This agreement paves the way for the IMF to disburse $360 million under Ghana's $3 billion bailout program, anticipated next month.
![Ghana Secures Debt Restructuring Deal with Bilateral Creditors](https://devdiscourse.blob.core.windows.net/imagegallery/16_01_2019_13_01_16_4088895.jpg)
- Country:
- Ghana
Ghana has agreed a memorandum of understanding with its bilateral creditors, including China and France, to restructure $5.4 billion of debt, two government sources said on Friday, one-and-half years after the West African country defaulted.
The MoU paves the way for the executive board of the International Monetary Fund to approve the disbursement of $360 million under Ghana's $3 billion, three-year bailout program, which is expected next month.
Once signed, the agreement would form the basis of a deal to restructure loans its official creditors, including China and France under the Paris Club of creditor, agreed in January.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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