Ghana – Joint World Bank-IMF Debt Sustainability Analysis

Overview & Synopsis

The authorities have made significant progress on their comprehensive debt restructuring strategy. They completed the domestic debt restructuring in 2023 and the restructuring of their Eurobonds in October 2024. Following the agreement with the Official Creditor Committee (OCC) under the G20 Common Framework on a Memorandum of Understanding that codifies a debt treatment consistent with the IMF-supported program parameters, the MoU was signed by all parties in January 2025, and bilateral agreements are now being prepared. The DSA assumes a treatment of the residual claims of other external commercial creditors in line with the authorities’ restructuring strategy that is consistent with program parameters and comparability of treatment principles. Given the small share of residual claims and the government engaging in “good faith” negotiations, those claims are deemed away for the purpose of the DSA.