The International Monetary Fund (IMF) Concessional Lending and Debt Relief Trust has Ghana as its second-highest debtor.

17% of the nation's overall IMF borrowings are in the form of outstanding Special Drawing Rights (SDR) totaling 2.242 billion.

This is reflected in the most recent quarterly reports and financial accounts released by the IMF as of October 31, 2024.

In particular, low interest rates are offered for the concessional financing facility, and within one to three years, the Poverty Reduction and Growth Trust (PRGT) will give low-income nations financial help on favorable conditions.

First position went to Ethiopia with 2.256 billion SDR in IMF debt, and third place went to Zambia with 1.272 billion SDR in debt.

Following in fourth and fifth positions were Kenya and Ivory Coast, respectively. The remaining SDR (44 %) were owed to the IMF by other countries.

In terms of regional breakdown of the outstanding poverty loans, Africa held a chunk amounting to 78% percent.

The least regional receiver was Europe. It accounted for only one percent.

Ghana along with Zambia, has defaulted on its debt obligations compelling both countries to seek financial assistance from the Fund.

In particular, Ghana in 2023 turned to the IMF for economic assistance amid severe financial challenges.

A $3 billion bailout was approved under the IMF Extended Credit Facility (ECF) to help stabilize the economy.

Ghana has so far received $1.92 billion from the program with the outstanding tranches expected in the coming months.