...Institutional and economic profile Flexibility and performance profile Authorities have reached agreement on a Memorandum of Understanding to specify the treatment of Ghana's bilateral official debt, a pre-requisite for the IMF Board to approve the disbursement of the third loan tranche of around $360 million due under Ghana's IMF Extended Credit Facility (ECF) Program. In 2023, the current account posted the first surplus in over 20 years, reflecting the moratorium on interest payments to nonresidents, and rising remittance inflows. --While Ghana remains in default on its commercial debt, it may be able to finalize a restructuring agreement with its commercial creditors by the end of the summer. -- Ghana is on track to run a general government primary budgetary surplus on an accrual basis this year, for the first time since 2017 (a period during which Ghana was under an IMF ECF Program)....
