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Ghana and the IMF: big hurdles to debt sustainability

The decision by Ghana’s government to turn to the IMF will help to restore some calm among investors over the country’s poor public finances. But a very large fiscal squeeze is needed to restore debt sustainability and recent protests highlight the political difficulty of pushing that through. The result is that the debt-to-GDP ratio will remain on an upwards trajectory. EM Drop-In (Thurs, 7th July): Join our economists for their regular monthly briefing on the hot stories in EMs – and those that aren’t getting the attention they deserve. In this 20-minute session, topics will include the outlook for EM FX markets after the recent sell-offs. Register now.

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