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IMF deal: We can manage – Ofori-Atta on external creditors’ cut-off date
Finance Minister Ken Ofori-Atta has stated that Ghana is open to any new cut-off date proposed by external creditors for the restructuring of Ghana’s external debt.
China is suggesting a December 2020 cut-off date instead of the previously agreed-upon date of December 2022.
This delay has affected Ghana’s meeting with the IMF Board for the next tranche of $600 million.
Speaking to journalists in Accra, Ken Ofori-Atta reiterated that Ghana is open to considering any date.
“For us, we can manage, so the issue is for the membership of the OCC [Official Creditor Committee ] to get comfortable, and so we hope that by the end of next week, we will have what we need so that the Fund Board can sit. Everybody is looking at the comparability of treatment in there and China and France certainly are co-chairs, so they have a good impact on what will happen, but we should be okay.”
This comes on the back of claims by the Minority Leader, Dr. Ato Forson, that the negotiation has suffered a setback and the next $600 million package is in limbo.
According to Mr. Forson, there is a disagreement between the government and the Official Creditors Committee regarding the cut-off point for the external debt to be included in the debt restructuring exercise. He insisted that this disagreement has put the release of the next tranche of $600 million in jeopardy.
Minority Leader, Dr. Cassiel Ato Forson who made the allegation during his concluding remarks on the 2024 budget debate in Parliament on Wednesday, November 29, 2023, said Ghana is currently in a tight spot.
“Mr. Speaker, it will interest you to know that there is a deadlock in the negotiation between Ghana and the International Official Creditors Committee (OCC) made up of China and the Paris Club 50. There is a major disagreement on the cut-off point, regarding the external debt that must be excluded from the restructuring. Mr. Speaker, I do not need to sound the alarm that at this point, Ghana is between a rock and a hard place.”
Source: Citinewsroom.com
Ghana’s First Lady, Lordina Mahama, has made a generous donation to the country’s national female Under-17 and Under-20 teams – Black Maidens and Black Princesses- as they continue preparations for major international assignments.
The donation, made on Friday, May 22, was presented on behalf of the First Lady by the Minister for Gender, Children and Social Protection, Agnes Naa Momo Lartey, at the GFA Technical Centre in Prampram.
The gesture forms part of efforts to motivate and support Ghana’s young female footballers as they prepare to represent the country on the international stage.
The donation included essential food items and toiletries aimed at supporting the welfare and well-being of the players and technical teams.
The donation included cartons of Milo, T-rolls, soft drinks, toiletries, and a range of essential supplies aimed at supporting the welfare of the players, enhancing camp conditions, and easing preparations ahead of their respective assignments.
The Black Maidens are currently engaged in preparations for the FIFA U-17 Women’s World Cup qualifiers and are set to take on Liberia women’s national under-17 football team in the second-leg encounter in Liberia this weekend.
Meanwhile, the Black Princesses have already secured qualification to the FIFA U-20 Women’s World Cup after overcoming Uganda in the qualifiers, extending Ghana’s remarkable record to eight consecutive appearances at the tournament.
The donation by the First Lady was expected to boost morale within both camps while reinforcing national support for the young female footballers who continue to make the country proud.
The prosecution has officially rested its case in The Republic v Solomon Asamoah & Another, the high-profile legal battle commonly referred to as the “Sky Train” case.
The Deputy Attorney General Justice Srem Sai announced the development, praising the state’s team of hard-working prosecutors for successfully anchoring the state’s evidence before the High Court.
The criminal trial centers on the former Chief Executive Officer and the former Board Chairman of the Ghana Infrastructure Investment Fund (GIIF).
The duo stands accused of illegally authorizing and paying out US$2 million to a foreign company without obtaining board directives or other mandatory statutory approvals.
State investigators have confirmed that the disbursed millions cannot be found.
Following the closure of the prosecution’s case, the accused persons moved the court for an opportunity to file a submission of no case.
The presiding judge granted the application, ordering the defense to submit their arguments by June 8.
The outcome of the June 8 filings will decide the fate of the trial:
With this, if the judge finds the defense’s submission convincing, the accused will be acquitted and discharged however, If the judge dismisses the submission, the court will order the accused officials to take the stand and explain why they should not face prison sentences.
By Edem Mensah-Tsotorme
