Ghana To Enjoy $100m Debt Relief

The International Monetary Fund (IMF) would next week, write-off 100 million US dollar of Ghana?s total debt. The relief, which is under the multilateral Debt Relief Initiative, is to avoid the pile up of debt owed by Ghana.

The Resident Representative of the IMF, Ms Alphecca Muttardy, disclosed this on Thursday at the annual reception organized for media practitioners by the United Nations System at the United Nations System at the United Nations Development Programme (UNDP) premises.


She said, that the relief was to assist Ghana undertake more infrastructural development such as the construction of schools, roads and health posts, as well as rural electrification project and the provision of potable water. The fund, according to Ms Muttardy, last year, provided Ghana with 5.7 million dollars under the HIPC debt relief. She said that the relief was going to be an annual affair as part f the fund?s social responsibility.

She noted that the role of the IMF was to advise its member countries, including Ghana, on macroeconomic and financial policies. The UN resident co-ordinator Mr Daouda Toure urged the media to join government and the UN sight poverty in order to achieve the Millennium Development Goals. Ghana, she said, currently had a poverty reduction and growth facility arrangement with the IMF, under which she was expected to disburse about 260 million dollars, over three years to support accelerated growth and poverty reduction.


The country representative of the United Nation High Commission for Refugees (UNHCR), Luc Stevens, indicated his organization?s determination and commitment to help address the refugee situation in the country. He commended Ghana for it?s commitment to hosting refugees and displayed persons who in one way or the other, were confronted with challenges such as war and social strive. Mr Bright Blewu, General Secretary of the Ghana Journalists Association assured the agencies of the media?s commitment to help them in their activities.