{"id":141102,"date":"2024-01-19T14:56:37","date_gmt":"2024-01-19T14:56:37","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/01\/19\/successful-imf-board-meeting-will-lead-to-disbursement-of-second-tranche-to-ghana-john-kumah\/"},"modified":"2024-01-19T14:56:37","modified_gmt":"2024-01-19T14:56:37","slug":"successful-imf-board-meeting-will-lead-to-disbursement-of-second-tranche-to-ghana-john-kumah","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/01\/19\/successful-imf-board-meeting-will-lead-to-disbursement-of-second-tranche-to-ghana-john-kumah\/","title":{"rendered":"Successful IMF board meeting will lead to disbursement of second tranche to Ghana \u2013 John Kumah \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Deputy\u00a0Finance Minister\u00a0Dr. John Kumah asserts that\u00a0Ghana\u2019s\u00a0economy\u00a0has successfully overcome recent challenges, positioning itself for sustainable growth to benefit Ghanaians.<\/p>\n<p>In a\u00a0Facebook\u00a0post dated January 19, Dr. Kumah highlighted the unanimous approval of Ghana\u2019s request for debt treatment under the G-20 Common Framework.<\/p>\n<p>This, he believes, forms the foundation for his positive outlook on the nation\u2019s economic trajectory.<\/p>\n<p>Expressing gratitude, Dr. Kumah commended the people of Ghana for their unwavering support of the\u00a0government\u2019s measures and policies.<\/p>\n<p>He specifically acknowledged their role in mitigating the adverse impacts brought about by the\u00a0COVID-19 outbreak and the Russia-Ukraine\u00a0war.<\/p>\n<p>With optimism, the Ejisu Member of Parliament anticipates a brighter future for the country.<\/p>\n<p>He emphasised that the approved debt treatment sets the stage for sustained economic progress and ultimately benefits the citizens of Ghana.<\/p>\n<p>\u201cAn essential prerequisite for the IMF Programme was a confirmation that Ghana\u2019s public debt was on a sustainable trajectory.\u201d<\/p>\n<p>\u201cSubsequently, Ghana embarked on the restructuring of both domestic and external debt. The Domestic\u00a0Debt Exchange Programme\u00a0(DDEP) launched on 5th December 2022 has successfully been completed with over 90 percent participation. The OCC\u2019s approval of bilateral debt treatment is expected to provide the impetus for the ongoing commercial debt (Eurobonds) negotiations,\u201d a portion of his Facebook post said.<\/p>\n<p>Dr Kumah added that \u201cthe past week was marked by a significant development in the public debt trajectory following the unanimous approval of Ghana\u2019s request for debt treatment under the G-20 Common Framework for Debt Treatment Beyond the Debt Service Suspension Initiative (CF-DSSI).\u201d<\/p>\n<p>\u201cThe government has been combining both fiscal prudence and debt restructuring measures to contain growth in public debt with the view of bringing the debt levels to moderate debt level from high risk of debt distress. The Official Creditor Committee (OCC) decision to support the grand efforts of government is commendable, refreshing and worth celebrating. We, however, do so with caution given that more work needs to be done going forward.\u201d<\/p>\n<p>The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has stated that Ghana\u2019s economic policies under its programme are beginning to yield the desired outcomes.<\/p>\n<p>She emphasised that the policy and reform commitments outlined in Ghana\u2019s deal with the Bretton Woods Institution are in the best interest of the Ghanaian people.<\/p>\n<p>In a post on X (formerly Twitter) on Tuesday, January 16, she expressed the satisfaction of the IMF board with the assurances received from Ghana\u2019s external creditors.<\/p>\n<p>\u201cWonderful to see\u00a0President Nana Addo Dankwa Akufo-Addo\u00a0and Ghana\u2019s Finance Minister, Ken\u00a0Ofori-Atta\u00a0at #WEF24. The policy and reform commitments under Ghana\u2019s economic program are starting to bear fruit,\u201d she posted.<\/p>\n<p><!-- AI CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Deputy\u00a0Finance Minister\u00a0Dr. John Kumah asserts that\u00a0Ghana\u2019s\u00a0economy\u00a0has successfully overcome recent challenges, positioning itself for sustainable growth to benefit Ghanaians. In a\u00a0Facebook\u00a0post dated January 19, Dr. Kumah highlighted the unanimous approval of Ghana\u2019s request for debt treatment under the G-20 Common Framework. This, he believes, forms the foundation for his positive outlook on the nation\u2019s economic trajectory. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":141103,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-141102","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Successful IMF board meeting will lead to disbursement of second tranche to Ghana \u2013 John Kumah \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/01\/19\/successful-imf-board-meeting-will-lead-to-disbursement-of-second-tranche-to-ghana-john-kumah\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Successful IMF board meeting will lead to disbursement of second tranche to Ghana \u2013 John Kumah \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Deputy\u00a0Finance Minister\u00a0Dr. John Kumah asserts that\u00a0Ghana\u2019s\u00a0economy\u00a0has successfully overcome recent challenges, positioning itself for sustainable growth to benefit Ghanaians. In a\u00a0Facebook\u00a0post dated January 19, Dr. Kumah highlighted the unanimous approval of Ghana\u2019s request for debt treatment under the G-20 Common Framework. This, he believes, forms the foundation for his positive outlook on the nation\u2019s economic trajectory. 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