Ghana is on track to receive approval from the International Monetary Fund (IMF) for its $3 billion loan-support program by the end of Q2 2023. This is due to China, Ghana's largest bilateral creditor, agreeing to speed up the debt treatment process for its $1.7 billion owed. 

The finance minister of India, Nirmala Sitharaman, announced that all creditors, including China, have recognised the need to expedite the process. 
The Group of 20 Presidency's second Finance Ministers and Central Bank Governors (FMCBG) met in Washington DC for the 2023 IMF/World Bank Group (WBG) Spring Meetings, where they discussed resolutions for countries like Sri Lanka, Zambia, Ghana, Chad, and Ethiopia. 

Ghana's Finance Minister, Ken Ofori-Atta, expects an IMF Executive Board engagement and approval in Q2 2023.
The Government is having preliminary and technical discussions with Bondholders Committee Advisors, Bilateral Creditors Secretariat and Technical Teams, and Bilateral and Private Creditors to gain financial assurances for the loan-support program. 
Ghana's creditor engagement strategy prioritises transparency, fair treatment, and reasonable faith efforts for a collaborative process to restore debt sustainability, consistent with IMF debt sustainability analysis. 

The IMF, World Bank Group, and G20 Presidency have pledged to increase concessional financing to Ghana to address its current debt challenges. 
Ghanaian authorities have reached a Staff-Level Agreement with the IMF and completed its Domestic Debt Exchange Program (DDEP) in December. 
Officials from Ghana are currently engaging with commercial, bilateral, and multilateral creditors to secure IMF Board approval at the ongoing IMF/World Bank Spring Meetings.