Ghana qualified for a $918 million IMF programme in 2015 and has applied for a $3 billion bailout in 2022 awaiting approval.
Unlike our 16th enrolment in 2015, Ghana’s current unsustainable debt levels will certainly be a huge obstacle in obtaining a deal. A lot of conditions must be met.
According to the International Monetary Fund, “In cases where a country’s debt is assessed as unsustainable, the IMF is precluded from providing financing unless the member takes steps to restore debt sustainability, including by seeking a debt restructuring from its creditors. The IMF and World Bank still need to conduct a thorough update of the debt situation through a new Debt Sustainability Analysis (DSA), which will then be presented to our Executive Board when it considers the authorities’ program request.”.
The infographic below compares the status of some selected economic indicators in 2015 when government applied for a bailout to that of 2022.
![Status of selected economic indicators before an IMF programme: 2015 vs 2022 [INFOGRAPHIC] Status of selected economic indicators before an IMF programme: 2015 vs 2022 [INFOGRAPHIC]](https://www.myjoyonline.com/wp-content/uploads/2022/12/Status-of-selected-economic-indicators_A4-724x1024.jpg)
Latest Stories
- Ange Postecoglou leaves Celtic to become new Spurs manager
8 mins - Kotoko CEO should merit extension of his mandate – Chibsah
11 mins - Akyem-Abuakwa Traditional Council begins processes to destool Chief of Aworasa
41 mins - T-bills auction: Government to borrow ¢2.63bn this week
44 mins - Gonja-Mamprusi clash: Constant fight resulting in poverty, under development – NDF
51 mins - Phillips Consulting Limited tasks organisations with reimagining talent experience and retention
1 hour - GRA to charge importers additional 12.5% if they fail to register for VAT
1 hour - US sprinter Jim Hines, the first man to run 100m in under 10 seconds, dies at 76
1 hour - Rotary Club of Ho ends age-old water crisis in Kpokuve enclave
1 hour - iOS 17 drops support for the iPhone 8 and X
1 hour - Bond market: Total market turnover declines by 72.03% to ¢78.75m
2 hours - FBI agent who spied for Russia found dead in prison
2 hours - Cedi depreciation against dollar slows down; may record mixed performance this week
2 hours - Today’s front pages: Tuesday, June 6, 2023
3 hours - MOVEit hack: BBC, BA and Boots among cyber attack victims
5 hours