Press Release No. 24/08

IMF Managing Director Kristalina Georgieva Welcomes Debt Treatment Agreement Reached by Ghana and Its Official Creditors under the G20 Common Framework

January 12, 2024

Washington, DC: Following the announcement of an agreement being reached by Ghana and its official creditors under the Group of 20 Common Framework for Debt Treatment, Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), issued the following statement today:

“I welcome Minister of Finance Ofori-Atta’s announcement that the Ghanaian authorities have reached an agreement in principle with their official creditors on a debt treatment, consistent with the objectives of the IMF-supported program, which aims to restore macroeconomic stability and debt sustainability, build resilience, and lay the foundations for stronger and more inclusive growth.

“I want to thank the Official Creditor Committee, especially the co-chairs, China and France, for all their work to reach this agreement. This is another substantial milestone for the G20 Common Framework under which G20 creditors joined forces to agree on debt relief for Ghana.

“This agreement clears the path for IMF Executive Board consideration of the first review of Ghana’s three-year Extended Credit Facility Arrangement in the next few days. I look forward to continuing our fruitful collaboration with Ghana.”