\nhttps:\/\/youtube.com\/watch?v=_zvL94OlCwY%3Ffeature%3Doembed\n<\/div><\/figure>\n\n\n\n
\u201cWe have literally broken all records with regard to this restructuring. I think we need to recognise and acknowledge that. We started on July 1 and we\u2019re able to gain record time and get our SLA concluded, the domestic debt restructuring and Paris Club have already met twice, and we expect them to within the next few weeks to deliver their assurances.<\/p>\n\n\n\n
\u201cI think really we should we should be excited about how fast government has worked,\u201d he said on Joy FM\u2019s Midday.<\/p>\n\n\n\n
Speaking on whether the government is capable of meeting the deadline for securing the IMF deal, Mr Ofori-Atta said one cannot be too presumptuous about that.<\/p>\n\n\n\n
Meanwhile, in the wake of government\u2019s calls for external debt cancellation, the Governor of the Bank of Ghana, Dr Ernest Addison, has urged the International Monetary Fund to consider increasing concessional financing to the continent by modifying the access thresholds, including expanding access limits and relaxing eligibility criteria for PRGT (Poverty Reduction and Growth Trust) resources.<\/p>\n\n\n\n
This, he believes, will ensure timely financing assistance to the most vulnerable members.<\/p>\n\n\n\n
\u201cIt is in this context we welcome the Fund\u2019s decision to temporarily raise the annual and cumulative limits in the General Resources Account (GRA) to 200% and 600% of quota respectively for a period of 12 months.<\/p>\n\n\n\n
\u201cNevertheless, we underscore the importance of aligning PRGT access limits with those of the GRA to enhance Fund support to PRGT-eligible members facing acute debt challenges, while strengthening the fundraising efforts to bolster the PRGT resource envelope\u201d, the Governor disclosed this at the 2023 Africa Consultative Group Meeting with the Managing Director of the IMF, Kristalina Georgieva.<\/p>\n\n\n\n
The Governor has also urged the Fund to continue close engagements with other international financial institutions and creditors to strengthen the multilateral framework for dealing with Africa\u2019s debt distress in a timely manner.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Minister of Finance, Ken Ofori-Atta has expressed optimism about the country\u2019s progress in the pursuit of an International Monetary Fund (IMF) programme. According to the Minister, although Ghana initiated the process later compared to other countries like Chad, Zambia and Ethiopia who have been pursuing the deal for at least two years, Ghana has […]<\/p>\n","protected":false},"author":8,"featured_media":31507,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_post_source_name":"","_post_source_url":"","footnotes":""},"categories":[61,43,1],"tags":[4836,1648,7358,7568,8289,6725,8858,1694,1572,12354,9643,192,12502,2264,135,6543,5060,10954,2183,5205,483,7850,9833,1153,11973,1253,9431,11906,3954,594,9550,6137],"class_list":["post-31505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-local-news","category-news","tag-access","tag-africa","tag-bank","tag-cancellation","tag-chad","tag-debt","tag-debt-restructuring","tag-dr-ernest-addison","tag-ethiopia","tag-finance","tag-fund","tag-ghana","tag-ghanaians","tag-government","tag-gra","tag-growth","tag-imf","tag-international","tag-international-monetary-fund","tag-july","tag-ken-ofori-atta","tag-kristalina-georgieva","tag-meeting","tag-ofori-atta","tag-one","tag-paris","tag-poverty","tag-the-general","tag-will","tag-who","tag-youtube","tag-zambia"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/31505","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/comments?post=31505"}],"version-history":[{"count":0,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/31505\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media\/31507"}],"wp:attachment":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media?parent=31505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/categories?post=31505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/tags?post=31505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}