Ghana secures $3bn IMF deal after creditors agree to debt restructuring

The IMF has approved a $3bn loan to Ghana after the west African country’s creditors, including China, agreed to a crucial debt-restructuring that is vital to resolving Accra’s long-running economic and financial crisis.

The approval, which will immediately release $600mn, caps the first stage of a prolonged saga over the $63bn of external and domestic debts that Ghana ran up over the past 15 years.

The IMF’s decision to move…