The IMF has approved Ghana request for a USD 3 bln bailout package over the next three years to support the debt-ridden nation’s recovery, with an immediate disbursement of USD 600 mln. This loan will help restore Ghana’s FX reserves, which have nearly halved since August 2021 as the central bank worked to protect the cedi. The country is also seeking to renegotiate USD 13 bln of debt owed to private investors after suspending most of its external debt payments in December.