The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
The report gives the details of the Ghanaian authorities' request for modification of the performance criterion under the Extended Credit Facility (ECF)-supported program. The proposed loan involves borrowing at nonconcessional terms. The authorities' request is with the intention to consider modification of the limit on external borrowing at nonconcessional terms in the context of the combined first and second reviews to accommodate new high-return projects, in line with the new IMF policy on debt limits.