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World Bank approves $300m for Ghana to strengthen macroeconomic stability

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The World Bank today, January 23, 2024 approved a $300 million Development Policy Operation for Ghana.

The First Resilient Recovery Development Policy Financing is a critical contribution by the Bank’s International Development Association (IDA) to help Ghana’s economic recovery and support the country’s resilient and inclusive growth.

“The Government of Ghana remains committed to restoring macroeconomic stability and to the implementation of lasting reforms to set the economy on a path of strong long-term sustainable growth and transformation. The disbursement of this $300 million Development Policy Financing, the first in a series of three, will play a vital role in easing Ghana’s fiscal constraints, sustaining the momentum of economic recovery while protecting the poor and vulnerable,” said Honorable Ken Ofori-Atta, Minister of Finance for Ghana.

The approval of this financing package follows last week’s agreement in principle by the Official Creditors’ Committee under the G20 Common Framework on the key parameters of the proposed debt restructuring for Ghana.

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The agreement, which is consistent with the Joint World Bank-International Monetary Fund Debt Sustainability Framework, represents a critical milestone toward restoring debt sustainability.

“Restoring fiscal and debt sustainability, bolstering growth prospects, curbing inflation, and protecting the most vulnerable – measures supported by this financing – are urgent priorities for Ghana. They are also essential steps to allow the country to attract more foreign investment, revitalize its domestic private sector, build resilience against climate change, and improve the quality of life of its people,” said Ousmane Diagana, World Bank Vice President for Western and Central Africa.

The Resilient Recovery Development Policy Operation is the first in a series of three operations of $300 million each and part of a broad World Bank engagement for crisis response and resilience in Ghana.

Its objectives are to:

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1) restore fiscal sustainability;

2) support financial sector stability and private sector development;

3) improve energy sector financial discipline; and

4) strengthen social and climate resilience.

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Specific reforms supported by this financing series include strengthening domestic revenue mobilization, controlling expenditures, safeguarding financial sector stability, removing barriers to private investment, setting the energy sector on a sounder financial and operational footing, strengthening the country’s social protection system, and mainstreaming climate adaptation and mitigation across policies.

The World Bank’s International Development Association (IDA), established in 1960, helps the world’s poorest countries by providing grants and low to zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives.

IDA is one of the largest sources of assistance for the world’s 74 poorest countries, 39 of which are in Africa. Resources from IDA bring positive change to the 1.3 billion people who live in IDA countries.

Since 1960, IDA has provided $458 billion to 114 countries. Annual commitments have averaged about $29 billion over the last three years (FY19-FY21), with about 70 percent going to Africa.

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Source: World Bank

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Justin Kodua Frimpong files nomination to seek re-election as NPP General Secretary

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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.

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“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.

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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

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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.

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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.

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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

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