debt relief Archives - Wontumi Online

11 Apr

US To Push For ‘Speedy’ Action On Debt Relief For Ghana

wontumionlineBusinessdebt relief

The United States Treasury Secretary Janet Yellen will push for immediate action on requests by Ghana and Zambia for restructuring their sovereign debts during the 2023 Spring Meetings of the International Monetary Fund (IMF) and the World Bank this week. "During the week, Secretary Yellen will also maintain urgency for the speedy resolution of Common Framework cases like Zambia and Ghana to remove debt overhangs and foster growth in developing countries. She will also stress the importance of concluding the debt treatment for Sri Lanka," the Treasury said in a press release on Monday. Ms Yellen will also advocate for…

17 Mar

Akufo-Addo’s March Deadline For Debt Relief Negotiations Not Feasible – Dr. Acheampong

wontumionlineBusinessdebt relief, Dr. Theo Acheampong

Economist, Dr. Theo Acheampong, says President Akufo-Addo’s March deadline for the completion of the debt relief negotiations and executive board approval is not feasible. According to him, the earliest the country can complete the debt relief negotiations and get board approval for its debt relief programme is May. “In fact, according to the data information and assessment we’re privy to, I think it’s probably –we’re talking May thereabout in the best case scenario, and I’m actually on record on having said this,” he said. Speaking on JoyNews’ PM Express Business Edition, he explained that Ghana‘s debt relief negotiations comprises four…

24 Feb

Debt Relief: We’ll Help Ghana If Certain Conditions Are Met – German Ambassador Explains

wontumionlineNewsChristian Lindner, debt relief, Germany

The German government says it is willing to assist Ghana push through its proposal with its external creditors, especially China, but first, some conditions must be met. The reaction follows President Akufo-Addo’s call on German Finance Minister, Christian Lindner, to “encourage” China to accept Ghana’s proposal for debt relief with its largest external creditor, China. The Asian country claims about 1.7 billion of the entire external debt portfolio of 5.7 billion United States dollars which Ghana is seeking to restructure. German Ambassador to Ghana, Daniel Krull in a yet-to-be-aired interview on Foreign Affairs on the Joy News Chanel told host,…

17 Jan

G20 Common Framework: Ghana May Seek To Add China In Request For Debt Relief

wontumionlineBusinessChina, debt relief, G20 Common Framework, Ghana, non-Paris club member

Ghana may seek to add non-Paris club member China in its request for debt relief under the G20 Common Framework. China is Ghana’s biggest bilateral creditor with $1.7 billion of debt, according to data from the International Institute of Finance. This is compared with $1.9 billion to Paris club members. Managing Director of the IMF, Kristalina Georgieva, confirmed that Ghana just became the fourth country to seek treatment under the Common Framework. This sent a signal that it is seen as an important pathway for debt resolution. The IMF boss added countries seeking debt restructuring under the Framework will need…