“We expect the OCC and authorities to agree on the debt treatment parameters by end-2023, before an agreement with private creditors on comparable terms is expected for mid-2024, paving the way for Ghana moving out of default”.
Meanwhile, analysts believe the disbursement of the cocoa syndication loan in December 2023 and the possible inflows from the Economic Credit Facility ($600 million) with the International Monetary Fund will cushion the cedi in the near term.