Paris Club

“We Should Not Dwell On The Past”; “Economy Is On Path Of Revitalisation” – Ofori-Atta
22 May

“We Should Not Dwell On The Past”; “Economy Is On Path Of Revitalisation” – Ofori-Atta

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Finance Minister, Ken Ofori-Atta, has indicated that Ghana should not dwell on the past, but rather see that new things are being done. According to him, the government is ready for that and the country is certainly on the path toward not just recovery but, also, revitalizing the economy. “Indeed, I think we have to move ahead, and as the good book says, we should forget the former things, we should not dwell on the past and see that new things are being done, and we are ready for that”. Speaking at a recent press briefing organised by the International…
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Government Re-Profiling External Debt With G20 Members – Ofori-Atta
20 Jan

Government Re-Profiling External Debt With G20 Members – Ofori-Atta

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The Finance Minister, Ken Ofori-Atta has announced that government is planning to re-profile Ghana’s debt with the G20 developing countries rather than seek an outright cancelation. The Paris Club members have already agreed to form a creditor committee to discuss debt restructuring and a possible debt cancelation for Ghana. Government has come under some criticisms over its request to the Paris Club of International Creditors for debt cancelation. Some analysts have argued that the request could encourage government to engage in reckless borrowing if it is granted. Speaking on PM Express Business Edition, with George Wiafe, Mr. Ofori-Atta disagreed stating…
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G20 Creditors Agree To Ghana’s Debt Relief Talks
20 Jan

G20 Creditors Agree To Ghana’s Debt Relief Talks

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All member countries of the G20 group of economic powers are on board for a restructuring of Ghana’s debt. The Paris Club members are ready to take the first step toward forming a creditor committee, an official of the club told Reuters. Ghana last week requested a restructuring of debt it owes to other governments, becoming the fourth country after Chad, Ethiopia and Zambia to do so under a G20 Common Framework. The programme, which was launched in 2020, was supposed to streamline the process of coordinating among creditor governments the restructuring of low-income countries’ debts after the pandemic. However,…
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