Ghana is set to request on Tuesday to restructure its debt with official bilateral creditors under the common framework platform supported by the Group of 20 major economies, two sources told Reuters.
The West African country will ask bilateral creditors to form a committee as soon as possible, aiming for an "expedited treatment" on over $5 billion of debt, said one of the sources, who asked not to be named because the talks are private.
Ghana's debt restructuring under the common framework aims to include non-Paris club members such as China in debt relief talks. China is Ghana's biggest bilateral creditor with $1.7 billion of debt, according to the International Institute of Finance data. The platform has been widely criticised for its glacial progress. While Chad secured a deal with creditors in November, Zambia is still locked in talks and Ethiopia's progress was held up by civil war.
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