By: Franklin ASARE-DONKOH
The government of the United States of America (USA) has promised to intervene on Ghana’s behalf with the Paris Club as the country is struggling in seeking debt forgiveness as part of the International Monetary Fund’s balance of payment support.
The promise was announced by the visiting US Vice President, Kamala Harris, at a joint Press Conference with President Akufo-Addo at the Jubilee House in Accra today 27th March 2023.
Addressing the media, Mrs. Harris, assured that the USA will help Ghana with all the support it needs to ensure that it scales through its current economic predicament.
“We welcome Ghana’s commitment to reform its economy for sustainable and inclusive growth. We support Ghana’s engagement with the IMF, and we will continue to push all bilateral creditors to provide meaningful debt reduction for countries that need it.
It is critical to do so to build long-term economic growth and prosperity and to increase US investments. Our partnership is already strong, and I believe that today we have strengthened it.” She reiterated.
The US has also announced that its Department of Treasury’s Office of Technical Assistance (OTA) will deploy a full-time resident advisor to assist Ghana’s Ministry of Finance to develop and execute medium-to-long-term reforms needed to improve debt sustainability and support a competitive, dynamic government debt market.
The project, according to the USA will complement and build on the Government of Ghana’s debt restructuring efforts.
This project is part of OTA’s ongoing engagement to strengthen public financial management and financial sector oversight across sub-Saharan Africa.
2 Responses
It’s a welcome idea for the US to extend any help to Ghana at this crucial and critical stage of Ghana’s economic downturn.
But, why is Ghana ALWAYS very happy to carry a bowl to go borrowing but always begging when it comes to repaying monies borrowed. It really makes Ghana a laughing stock in the eyes of these lender countries, and makes these countries to be VERY careful in lending to Ghana the next time round.
The Ghanaian Political Leadership SHOULD be wary of these state of affairs and make the country economically self-sustainable taking into cognisance how rich and wealthy the country is naturally in terms of natural and human resources; and to let the country run away from this shamefulness (of ALWAYS borrowing but refusing to pay).
It’s really time to change for the better with this sort of attitude to making Ghana more SERIOUS in terms of good governance, and making the country economically and socially self-sustainable.
Let us learn from the Asian Tigers and how they became developed societies to reckon with.
Excellent Leadership IS A MUST !!!
And, minimising corruption is the WAY TO GO.
It’s a welcomed idea for the US to extend any help to Ghana at this crucial and critical stage of Ghana’s economic downturn.
But, why is Ghana ALWAYS very happy to carry a bowl to go borrowing but always begging when it comes to repaying monies borrowed? It really makes Ghana a laughing stock in the eyes of these lender countries, and makes these countries to be VERY careful in lending to Ghana the next time round.
The Ghanaian Political Leadership SHOULD be wary of this state of affairs and make the country economically self-sustainable taking into cognisance how rich and wealthy the country is, in terms of natural and human resources; and to let the country run away from this shamefulness (of ALWAYS borrowing but refusing to pay).
It’s really time to change for the better with this sort of attitude to making Ghana more SERIOUS in terms of good governance, and making the country economically and socially self-sustainable.
Let us learn from the Asian Tigers and how they became developed societies to reckon with.
Excellent Leadership IS A MUST !!!
And, minimising corruption is the WAY TO GO.