$30.6 billion as of 31 December 2022, including $15.9 billion to external private creditors (51% of the total external debt), $8.1 billion to multilateral creditors (26%), $5.1 billion to official bilateral creditors (16%), mostly due to Official Creditors Committee (OCC) members and $1.6 billion to non-resident holders of domestic debt (5%).

For the OCC, a flow treatment is applied, with the total debt service due during the years of the IMF programme period (from January 1, 2023 to December 31, 2026) rescheduled through maturity extension and reduced interest rate. The debt service due from December 20 to December 31, 2022 is also included in the flow debt treatment.

Maturities falling due in a specific year N are to form a debt stock which will accrue an annual restructuring interest to be capitalized until repayment in years N+16 and N+17. The weighted average maturity was extended from 2029 to 2038. The level of the restructuring interest rate will depend on the contractual interest rate of each claim.

New disbursements: disbursements made by the OCC on or after January 1, 2023 are not included in the scope of the treatment

In order to secure comparable treatment of its debt due to all its other external creditors in the scope of the debt treatment, the Ghanaian Government commits to promptly seek from such creditors a treatment on terms at least as favourable to Ghana as those on which it reached consensus with the OCC. The Ghanaian Government commits to, on a quarterly basis, inform the OCC, through its Secretariat and Chairs, on the progress of negotiations with all other external creditors in the scope of the debt treatment.

December 31, 2022

Key dates:

- Staff-Level Agreement: 12 December 2022

- Formation of the OCC: 12 May 2023

- OCC financing assurances: 12 May 2023

- IMF programme approval: 17 May 2023

- Agreement-in-principle (AIP) on main terms: 12 January 2024

- IMF 1^st Review: 19 January 2024

- Agreement on the MoU: 11 June 2024

- IMF 2^nd Review: 28 June 2024