Ghana’s loan program request to go to IMF executive board by end March

The country which is struggling with its worst economic crisis in a generation, secured a staff-level agreement with the IMF in December for a $3 billion loan, but approval is contingent on it restructuring its debt of $47.6 billion. Ghana is one of several cash-strapped countries that are facing unprecedented delays to secure bailouts as China and Western economies clash over how to structure debt relief deals. Last week a Chinese delegation had ended a three-day visit to discuss Ghana’s request for the restructuring of the $1.9 billion debt it owes China.

Source : CNBC Africa