Ghana’s SDR 2bn indebtedness to IMF forms 11% of Africa’s SDR 18bn debt to Institution
Ghana remains the most indebted country to the International Monetary Fund on the African Continent in terms of concessional lending from the Fund.
The country’s exposure to the Fund as at January 31, 2024 stood at SDR 2.088 billion which is equivalent of $2.77 billion.
Per the Fund’s Quarterly Finances for end-January 2024, Ghana’s outstanding concessional loans to the Bretton Wood institution were higher than what was recorded in July 2023.
Ghana received $600 million as a bailout package from the IMF in June 2023 and January 2024 to revive its economy after going through economic challenges.
The report further notes that the country’s concessional loan outstanding to the Fund is 11% of Africa’s total indebtedness of SDR 18.804 billion.
Ghana’s loan exposure to the Fund is classified as concessional lending with low-interest financing.
