Former President John Agyekum Kufuor

Former President John Agyekum Kufour has defended his decision to declare the country (HIPC) in 2001.

He said declaring Ghana HIPC at that time was significant in putting the economy back on track.

According to former President Kufuor the decision was strategic because the economy he inherited was so bad that all donor partners abandoned Ghana.

He said he came to government with the economy flat on its face, weighed down with debts and the country was described as not credit worthy.

He said declaring a HIPC status gave the then government some liquidity to operate because most of the interests it had accumulated were forgiven and helped to restore the macro-economic stability of the state.

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