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Ghana secures Paris Club financing assurance for $3bn IMF bailout

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China and the Paris Club have agreed to provide the debt assurances required to aid Ghana’s request for a balance of payment support from the International Monetary Fund (IMF).
They have thus asked all private creditors and other official bilateral creditors to commit to Ghana’s deal without any further delay.
This was contained in a press statement issued by the Paris Club on Friday, May 12.
“The creditor committee stresses that the Ghanaian authorities are expected to seek from all private creditors and other official bilateral creditors debt treatments on terms at least as favourable as those being considered by the creditor committee, in line with the comparability of treatment principle.
“Consequently, the creditor committee urges private creditors and other official bilateral creditors to commit without delay to negotiate with Ghana such debt treatments that are crucial to ensure the full effectiveness of the debt treatment for Ghana under the Common Framework,” excerpts of the statement said.
Also, a creditor committee for Ghana has been formed by countries with eligible claims to see to the quick implementation of the resolution. The creditor committee is expected to be co-chaired by China and France.
“The creditor committee examined the macroeconomic and financial situation of Ghana, including its long-term debt sustainability, and its formal request for a debt treatment under the “Common Framework for Debt Treatments beyond the DSSI” endorsed under the Saudi G20 Presidency in November 2020, which was also endorsed by the Paris Club.”
“The creditor committee supports Ghana’s envisaged IMF upper credit tranche (UCT) program and its swift adoption by the IMF Executive Board to address Ghana’s urgent financing needs. The creditor committee encourages Multilateral Development Banks (MDBs) to maximize their support for Ghana to meet its long-term financial needs,” the statement added.
Consequently, the Finance Ministry has taken to Twitter to express gratitude to all who have supported Ghana’s cause.
“The Paris Club has today established the OCC (co-chaired by China & France). With the granting of Financing Assurances, Ghana is now ready to go to the IMF Board. Thank you to all our bilateral partners for helping us reach this significant milestone! #ResolvingTogether.”
On Thursday, Information Minister Kojo Oppong Nkrumah had said the country would soon secure a bailout from the International Monetary Fund (IMF).
According to him, Ghana’s package was virtually ready to be presented for approval any moment now following the government’s successful engagement with Ghana’s creditors.
Mr Oppong Nkrumah said this was according to information from government sources within the Bretton Woods institution.
Source: Myjoyonline.com
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Justin Kodua Frimpong files nomination to seek re-election as NPP General Secretary

General Secretary of the New Patriotic Party (NPP), Justin Kodua Frimpong, has filed his nomination to contest the position of General Secretary again as the party begins its rebuilding efforts ahead of the 2028 general elections.
He was accompanied by party stalwarts and supporters who were in high spirits, expressing confidence that he is the right person to hold the position.
Speaking after filing his nomination, Mr Kodua Frimpong assured the rank and file of the party that he would not disappoint them.
“I can assure you that the faith the rank and file of the party have had in me, I will never disappoint them,” he said.
He also pledged to run a clean campaign devoid of personal attacks.
“I can assure you that our internal campaign will be devoid of personal attacks,” he told his fellow contestants and the rank and file of the party as he seeks to retain his position.
His tenure has seen the party through the 2024 general elections, where the NPP lost power to the National Democratic Congress (NDC) after eight years in government.
The party is currently in a rebuilding phase, with internal elections scheduled to elect new national executives to lead its reorganization towards the 2028 polls.
The General Secretary position is considered one of the most influential in the party’s administrative structure, responsible for the day-to-day running of the party secretariat and implementation of party decisions.
By Edem Mensah-Tsotorme
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UGMC disputes Michael Blackson’s claims over late mother’s treatment

The University of Ghana Medical Centre (UGMC) has disputed claims made on social media by comedian Michael Blackson concerning the treatment given to his late mother, saying a review found that the allegations did not accurately reflect what happened during her stay at the hospital.
In a statement issued in Accra on August 5, 2026, the management of UGMC expressed condolences to Mr. Blackson and his family over the death of his 83-year-old mother, who died at the facility on July 16, 2026.
The hospital said it had taken the concerns raised by Mr. Blackson seriously and conducted a thorough review in line with its clinical and administrative procedures.
According to the statement, the facts presented by Mr. Blackson on social media contained “numerous inaccuracies” and did not accurately reflect the medical care provided to his mother.
UGMC explained that she was referred to the facility from another hospital and received treatment there from May 27 to July 16, 2026, a period of about eight weeks.
The hospital stated that it would not release details of her diagnosis, treatment, medical records or other aspects of her care because it had a duty to protect patient confidentiality, even after death.
It said the decision was intended to respect the dignity of the deceased and the privacy of her family.
UGMC further stated that all clinical decisions at the facility are made by qualified healthcare professionals based on medical judgment, established standards of care and the best interests of the patient.
The statement added that such decisions are made in consultation with authorised family representatives where necessary and that billing and financial procedures are governed by institutional policies and are separate from clinical decision-making.
The hospital noted that it values feedback from patients and their families and considers both positive and negative comments important for improving the quality of care.
Mr. Blackson had earlier used social media to criticise the care his mother received at UGMC, prompting the hospital’s response.
By: Jacob Aggrey




