Dr. Mohammed Amin Adam with other officials of Finance Ministry
Bilateral creditors have shared a draft Memorandum of Understanding (MoU) on Ghana’s debt restructuring with the members of the official creditor committee, Finance Minister, Dr. Mohammed Amin Adam, has revealed.
According to him, the document was under consideration by the members of the Official Creditor Committee and could lead to an agreement on the MoU soon.
Dr. Amin Adam noted, “The Official Creditor Committee has shared the draft document with their members and as soon as they share the document with us and we are okay with that, then we have an agreement.”
The Finance Minister said this at the press conference in Washington DC USA on the sidelines of the IMF/World Bank Spring Meetings.
The Finance Minister said, “The IMF is not asking for a deal from the Bilateral Creditors before it goes to the board, but rather an agreement on the wording of the MOU and that will be sufficient for the IMF to go to its board.”
Dr. Amin added, “We are very optimistic that we can meet all the conditions needed for IMF to go to the board in June this year.”
Touching on the negotiations with Eurobond and commercial creditors, the Minister of Finance said the government has made good progress with these creditors and a deal will be reached soon.
He added, “Any deal that we reach with these commercial creditors should be in line with Ghana’s Debt Sustainability Analysis and we are working hard on that.”
The Minister was optimistic an agreement will be reached that will be in line with Ghana’s Debt Sustainability Analysis.
“We are working to narrow the gap when it comes to what we initially proposed to the creditors” the Finance minister revealed at the press conference.
A Business Desk Report