"Benefits of HIPC to be realised soon"-Kufuor

President John Agyekum Kufuor said that the much expected debt relief associated with the country's decision to opt for the Highly Indebted Poor Country (HIPC) initiative would be realised within the next two months.

"Between June and July two-thirds of the country's debt would be cancelled by donors," he told a delegation of the Catholic Bishops Conference at the State House.

President Kufuor said already the United Kingdom has suspended payment of about 58 million pounds sterling debt Ghana was supposed to service before the HIPC initiative.

This, he said, gives the government the much-needed financial relief to implement critical development projects especially in the rural areas.

He said the decision to opt for HIPC was a difficult alternative, which has attracted public criticism due to the lack of broad consultations on the issue.

He, however, explained that it was the only way out for the government to balance its budget and introduce some discipline into the economy.


"We were forced to take the seemingly high demeaning initiative out of desperation to revive the economy, but through proper management we could come out of it."


President Kufuor said to keep the economy on a sound footing, it became necessary to impose other stringent fiscal policies such as the removal of subsidies on petroleum products.


He said the government is determined to implement all the election promises it made to the people such as the fight against corruption and promotion of national development.


In line with these objectives, he said, plans are underway to introduce code of ethics to regulate the conduct of all government officials.


President Kufuor appealed to the clergy to support his administration with prayers to remain committed to its zero tolerance for corruption, saying "corruption is the chief agent of death."

Nana Addo Dankwa Akufo-Addo, Attorney General and Minister of Justice said government's commitment to transforming the country is not a mere public relations gimmick, but a determined effort to achieve results.


He called for the support of the church to facilitate government's effort to foster national reconciliation, which is needed to speed up the development process.


The Most Reverend Peter Kwadwo Appiah Turkson, Archbishop of Cape Coast and President of the Bishop's Conference expressed the condolence of the church to the bereaved families of last Wednesday's stadium disaster.


He commended President Kufuor for the enabling manner his administration is promoting sub-regional integration as well as the fight against corruption.


Ms Elisabeth Ohene, Minister of State for Media Relations appealed to the church to help defuse the tension which has been mounting as a result of the stadium disaster.