G20 Common Framework Archives

16 Oct

Ghana, Sri Lanka Have Advanced With G20 Common Framework For Debt Treatments – IMF Boss

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The Managing Director of the International Monetary Fund, Kristalina Georgieva, has hinted that Ghana and Sri Lanka have advanced with the G20 Common Framework for Debt Treatments. This should soon pave the way for a probable agreement with the bilateral creditors for the external debt restructuring. Finance Minister, Ken Ofori-Atta, has, already indicated that Ghana will conclude negotiations with its bilateral creditors including China by the end of the year. Speaking at a press briefing to climax the World Bank/IMF Spring Meetings in Marrakesh, Morrocco, Ms. Georgieva said her outfit has made progress on debt resolution for countries in debt…

23 Feb

Government Postpones Meeting With China On Debt Cancellation To March 2023

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Finance Minister, Ken Ofori-Atta, has hinted that a planned high-level government delegation to China has been postponed to late March 2023. This is owing to the upcoming National People’s Congress of China meeting scheduled for early March. However, the Finance Minister said bilateral talks will continue ahead of this important mission. The government is seeking under the G20 Common Framework for Debt Treatment to get debt forgiveness from some bilateral and multilateral partners. Key among them is China, whom Ghana is indebted to the Far East country to the tune of over $1.7 billion. This is compared with $1.9 billion…

17 Jan

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

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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…

17 Jan

IMF Boss Confirms Ghana Is Seeking G20 Common Framework

wontumionlineBusinessG20 Common Framework, Ghana, imf, Kristalina Georgieva

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has confirmed that Ghana has sought debt treatment under the Common Framework platform supported by the Group of 20 major economies. Reuters reported that Ghana requested on Tuesday to restructure its bilateral debt under the Common Framework platform supported by the G20, according to a source familiar with the situation. The crisis-hit nation becomes the fourth country to apply to the G20 initiative launched in 2020 and designed to streamline debt restructuring efforts in the wake of poorer countries buckling under the fallout from the COVID-19 pandemic. Ghana just became the fourth…

05 Jan

Ghana To Request Debt Relief Via G20 Common Framework

wontumionlineBusinessG20 Common Framework, Ghana, imf, world bank

Ghana is set to request a debt relief via the G20 Common Framework programme, despite only poor nations eligible for it. According to Reuters, the country has sought reassurances that the negotiations can be expedited before proceeding. It said Ghana had reached out to the Paris Club of creditor countries in December 2022 to ask for assurances that the Common Framework process, set up by the Group of 20 leading economies in 2020 in response to COVID-19, could be expedited. If the assurances are favourable, the government would quickly sign onto the Common Framework, Reuters source revealed on condition of…