Ghana gets debt-relief terms, enough to unlock IMF $600m.

Ghana has received a draft term sheet on debt relief from its official creditors that is sufficient for the International Monetary Fund to disburse $600 million to the West African nation, Finance Minister, Ken Ofori-Atta said._

The term sheet from the Paris Club Group of creditors and new ones including China comes after months of negotiations to restructure as much as $5.4 billion of bilateral debt. The IMF board is expected to meet in a week.

A memorandum of understanding with the bilateral lenders could also unlock $550 million of additional funding from the World Bank by the end of February, Ofori-Atta said last week.