The International Monetary Fund (IMF) has refuted claims that Ghana has again been added to the list of Heavily Indebted Poor Countries (HIPC).
“The HIPC Initiative is essentially closed for countries that have already reached the Completion Point. As you may recall, Ghana successfully reached the Completion Point in July 2004,” a statement from the IMF’s Resident Representative to Ghana, Dr. Albert Touna-Mama clarified.
He noted that the list of countries that have qualified for the HIPC Initiative since its inception in 1996 is regularly updated “and must not be interpreted as a new HIPC list.”
“Any such interpretation is flawed and maybe deceptive,” Dr. Touna-Mama added in the statement.
Ghana’s debt hit GHS263 billion as of July 2020.
The external component of the debt was estimated at GHS138 billion [$24.3bn], representing 35.8 percent of GDP.
The presidential candidate of the National Democratic Congress (NDC), John Dramani Mahama, has challenged President Nana Akufo-Addo to account for monies borrowed under his tenure.
John Mahama says the NPP government has so far secured over GHS140 billion in loans since assuming office yet there is nothing to show for the amount borrowed.
Source: Mybrytfmonline/Kofi Atakora
