Ghana Not Declared As HIPC – IMF

The International Monetary Fund (IMF) has said Ghana has not been reinstated into the Highly Indebted Poor Countries (HIPC) Initiative.

This comes after reports on social media suggested Ghana had been re-admitted into the programme that it departed 16 years ago in 2004.

In an email sent to Graphic Online, Resident Representative of the IMF to Ghana, Dr Albert Touna-Mama, debunked the claims and indicated the reports were false and misleading.

“We have been made aware of (social) media reports stating that Ghana has recently been added to the list of HIPC by the IMF. The HIPC Initiative is essentially closed for countries that have already reached the completion Point,” Dr Touna-Mama said in the email.

Meanwhile, Information Minister, Kojo Oppong Nkrumah on Tuesday, October 27 also rebutted claims that Ghana has been listed among the Highly Indebted Poor Country (HIPC) status due to its declining economic situation.

Speaking at government’s weekly Nations Building updates, the Information Minister explained that the Akufo-Addo-led administration has not applied to the International Monetary Fund (IMF) or the World Bank to be listed onto HIPC programme and urged the public to disregard such false reports circulating on the social media.

Ghana had successfully reached the Completion Point of the HIPC programme which was introduced in 1996 and was in July 2004 declared ineligible to be reinstated into the programme.