Information reaching Thinknewsonline.com indicates that the the Paris Club and China have granted financing assurances to enable Ghana present its programme to the IMF Board.
The Ministry of Finance took to its Twitter handle to announce the positive news.
In a tweet sighted by Thinknewsonline.com it read "The Paris Club has today established the OCC (co-chaired by China & France)"
"With the granting of Financing Assurances, Ghana is now ready to go to the IMF Board"
The tweet further thanked all bilateral partners for helping Ghana reach such significant milestone!
"#ResolvingTogether"
In other developments, the Managing Director of the International Monetary Fund (IMF), Ms. Kristalina Georgieva has issued a statement in reaction to the statement from the Creditor Committee for Ghana under the G20 Common Framework for Debt Treatments.
“I welcome the statement from the Official Creditor Committee for Ghana on the importance of an IMF-supported economic program, together with its commitment to negotiate debt restructuring terms accordingly"
She noted that the statement provides the necessary financing assurances for the IMF Executive Board to consider the proposed Fund-supported program and unlock much needed financing from Ghana’s development partners.
"I also strongly endorse the call by the Official Creditor Committee for private creditors and other official bilateral creditors to commit to comparable debt treatments"
“The Creditor Committee’s action recognizes the Ghanaian authorities’ strong reform program, which aims to restore macroeconomic stability and debt sustainability while laying the foundation for an inclusive recovery"
"It also signals that further progress is being made under the G20 Common Framework, demonstrating that international partners are ready to work together to help countries resolve their debt issues. This is vital to enable countries such as Ghana achieve sustainable growth and poverty reduction.”
It will be recalled that on December 12, 2022, the IMF reached a staff-level agreement with the Ghanaian authorities on a new arrangement under the Extended Credit Facility. Board consideration of Ghana’s program request has been pending financing assurances from Ghana’s official bilateral creditors.
Below is a copy of the tweet:
Story by: Joshua Kwabena Smith
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