In terms of concessional lending, Ghana is the second-most indebted African nation to the IMF.

In terms of concessional lending and debt relief trusts, Ghana is the second-most indebted nation in Africa to the International Monetary Fund (IMF).

As of October 31, 2024, the nation’s exposure to the Fund was $2.914 billion, or 2.242 billion Special Drawing Rights. Up until recently, the country in West Africa had the highest level of IMF debt.

The nation’s exposure accounted for 17% of all International Monetary Fund borrowings made by Africa.

First place went to the Democratic Republic of the Congo, which owed the IMF $2.256 billion SDR.

With an SDR 1.272 billion debt to the International Monetary Fund, Zambia came in third.

Due to loan defaults, Zambia and Ghana had to turn to the IMF for support.

As per the Fund’s Quarterly Finances, the nation’s total outstanding concessional loans to the Bretton Wood organization exceeded the figures from July 2024.

Following a period of severe economic difficulties, Ghana approached the IMF in January 2023 to request economic aid. To boost Ghana’s economy, the IMF authorized a $3 billion bailout package in May 2023.

Under the Economic Credit Facility Program, the Breton Woods institution has so far contributed $1.92 to the country.

Concessional lending with low-interest financing is the category for the country’s loan exposure to the Bretton Woods institution.

For eligible low-income member nations, the PRG Trust offers loans on favorable conditions.