General News Mon, 27 Jun 2005

Ghana to propose unconditional debt relief

Accra, June 27, GNA - Foreign Minister Nana Addo Dankwa Akufo-Addo said on Monday that Ghana would be putting on the table at the G8-Summit a proposal for unconditional debt relief for all African countries. At a meeting with G8 Ambassadors in Ghana in Accra, Nana Akufo-Addo said it was the Government's belief that debt write-off must be devoid of conditionalities and should be extended to all countries on the Continent to enable them to make new beginnings.

However, he explained, the countries could be tied to rules of good governance and transparency among other things when they sought to raise additional resources to meet their developmental agenda.

Nana Akuffo-Addo said besides these proposals Ghana would further seek clarification on the cut-off date of the debt relief. This, he said, was important to enable the countries to know how much relief they would receive, saying it would be very much appreciated when the cut-off date took effect from the end of May, when the announcement was made by the G-8 Finance Ministers.

The Minister told the Ambassadors that the fight against poverty would succeed if heir countries made additional resources available and pooled to a central system for multilateral agencies to manage instead of on bilateral basis.


He said the Continent was committed to good and accountable system of governance to enhance development.

The Ambassadors said they would report the outcome of the meeting back to their home governments.

The G-8 Summit is scheduled for Gleneagles, Scotland, from July 6 to July 8 and deliberations are expected to be dominated by challenges in Africa and climate change.

Source: GNA
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