The Finance Minister is anticipated to deliver the mid-year budget review for 2024 either on July 12th or 15th.
This announcement follows shortly after the Minister’s declaration of the conclusion of the country’s debt restructuring under the conditions set by the International Monetary Fund (IMF).
According to Frank Annoh-Dompreh, the Majority Chief Whip, the exact date “has yet to be finalized.”
During a parliamentary session on Tuesday, Frank Annoh-Dompreh stated that
we will convene a joint caucus [meeting] on Wednesday, the 3rd of July, to prepare for the Finance Minister’s upcoming presentation.”
Ghana is poised to potentially access international capital markets for new dollar loans in the near future.
According to some international investors and Eurobond holders, Ghana may soon gain entry into the international capital markets for fresh dollar borrowings, following the government’s successful negotiation on restructuring approximately $13.1 billion.
Over the last two years, Ghana has been unable to access the international market for dollar investments due to escalating debt levels, sluggish economic growth, and a weak balance of payments.
The government was excluded from this market following its announcement of plans to restructure debts owed to commercial creditors.
Eurobond holders have indicated that the government is now implementing measures aimed at safeguarding investor funds. It is anticipated that finalizing the debt restructuring will help restore confidence in the market.
