On Thursday, the IMF stated Ghana’s economy is stabilizing with lower inflation, rising international reserves, and a less volatile exchange rate.
The IMF declaration followed a week-long visit to Ghana as part of Ghana’s $3 billion loan program, agreed in May.
After its finances collapsed last year, the West African nation wants to restructure $20 billion of its $30 billion external debt under the Group of 20’s Common Framework.
“In discussing progress on debt restructuring operations, we reiterated that timely restructuring agreements with creditors are essential to secure the expected benefits of the Fund-supported program,” the IMF said.
The statement added the first official program review is scheduled for this autumn.
