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– Ghana's level of indebtedness to the IMF has surpbaded the 400400 million mark, and for a middle-income middle-income country, it must be the subject of a special program to ensure that repayment of the debt is not affected in any way.
– Ghana's recent program with the IMF ended in April this year. Ghana received $ 925.9 million over 4 years.
– IMF has placed Ghana under post-program surveillance after the country's debt levels to the IMF reached just over $ 1 billion
Ghana has been placed in a program monitoring mission by the International Monetary Fund (IMF).
This comes after the country's debt to the IMF reaches just over one billion dollars.
Ghana's policies are still under scrutiny by the Fund, although it received a bailout in April 2019.
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As part of its safeguard architecture, the Fund generally submits countries that have completed its lending program to post-program monitoring (PPM).
PPM is generally expected for all member countries that have significant outstanding credit with the IMF after the expiry of their programs.
This aims to identify risks and advise member countries on measures to correct macroeconomic imbalances.
Ghana's level of indebtedness to the Fund has so far exceeded 400 million GH ¢, hence the GPP to ensure that debt repayment is not affected.
The country has recently received $ 925.9 million from the IMF, spread over 4 years, after the end of its program with the Fund in April.
Under the GPP, countries engage with the IMF more frequently in official consultations than under normal IMF surveillance.
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The focus here is on macroeconomic and structural policies and risks that affect the country's external viability and its ability to repay the IMF.
Ghana will continue to be under PPM for the next 12 months until outstanding credits fall below the threshold.
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Source: Yen
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