Ghana Debt Recovery Plan Stalls

In December 2022, the Ghanaian government formally launched the country's domestic exchange programme  as part of measures to restructure and bring the country's debt portfolio to sustainable levels, with a call on citizens to support the rollout.

The government also appealed to the International Monetary Fund to help restore macroeconomic stability. The IMF assistance - which is yet to be approved by the fund's executive board - is conditional to the country bringing its public debt down to more manageable levels from the currently estimated 105% of GDP to 55% in present value terms by 2028. The government also needs the buy-in of bond-holders.

Theophilus Acheampong analyses for The Conversation, four reasons why those who lent money to the government by buying bonds will have to agree to the restructuring, such as a longer repayment period, and why the buy-in is stalling.


An outside view of parliament in Accra, Ghana.

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