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IMF “Optimistic” About Ghana Debt Deal Amid Predictions that Chinese Lending Could Bounce Back

China’s lending to Africa has fallen sharply since 2016. Source: Standard Chartered, Boston University

The International Monetary Fund said it is hopeful that Ghana will reach a debt agreement with bilateral creditors soon, which would unlock another $600 million IMF payment to the country.

The IMF’s Resident Representative for Ghana, Leandro Medina told Reuters: “We are optimistic that an agreement will be reached soon, allowing to swiftly present the first ECF (Extended Credit Facility) program review to our Executive Board.”

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