Paris Club creditors commit to providing financing assurance to Ghana -Finance Minister
Finance Minister, Ken Ofori-Atta has revealed that the Paris Club of Bilateral Creditors have given the indication of their willingness to extend the required financing assurance to Ghana in the coming weeks.
Mr. Ofori-Atta stated that government has engaged the IMF and the Paris Club members.
He announced that government will soon commence a series of meetings with the two groups in the coming weeks.
The Finance Minister was answering questions from journalists at a press conference to wrap up Ghana’s engagement at the Annual IMF/World Bank Spring Meetings in Washington DC.
“The IMF has already indicated that it will move for its Executive Board to approve Ghana’s programme once it secures the required financing assurance from the external creditors”, he said.
He clarified that once the assurance is given by the creditors, the IMF will sign a deal with Ghana.
“What the IMF needs now is the financing assurance from the Paris Club of Bilateral Creditors so it can move to approve Ghana’s programme”
China and Ghana’s IMF programme
Mr. Ofori-Atta expressed optimism that the Chinese government will also agree on debt restructuring programme with Ghana.
He stated that the Chinese government has already shown positive signals of entering into an agreement with government.
Engagement with Businesses in USA
He also used the opportunity to engage private businesses in the U.S to consider expanding their operations to Ghana.
“Ghana’s delegation also participated in a round table with the US Business Council for international understanding to discuss Ghana’s economic recovery and the private sector critical role in supporting the recovery of the economy” he disclosed.
Some of the companies included Newmont, Citi Bank, HP, John Deer, KOSMOS, and Google
“Based on this engagement we firmly believe that the country is poised to improve Foreign Direct Investment to Ghana.
He stated that some the companies at the meeting promised to increase their investments into Ghana, while others pledged to come of the country and do business.
Source: Ghana News
