Exclusive: IMF and Ghana expected to reach staff-level agreement by Tuesday

The IMF did not respond to a request for comment. A spokesperson for Ghana's finance ministry said they could not comment beyond that the negotiations were ongoing.

"I expect the staff level agreement to clarify the missing details on debt restructuring, both local and external, since the government’s communication on it could have been clearer and more coherent over the last few weeks," said Gergely Urmossy, emerging market strategist at Societe Generale. If a domestic debt rework is "done in a coherent manner, with the support of the IMF and the local banking system, the country will be in a significantly better position because it addresses the near term external liquidity challenges," said Carmen Altenkirch, Aviva Investors emerging markets sovereign analyst.

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