We’ve turned the corner; Ghana’s economy destined for sustainable growth – John Kumah

In a Facebook post dated January 19, Dr Kumah highlighted the unanimous approval of Ghana’s request for debt treatment under the G-20 Common Framework.

He emphasised that the approved debt treatment sets the stage for sustained economic progress and ultimately benefits the citizens of Ghana.

“An essential prerequisite for the IMF Programme was a confirmation that Ghana’s public debt was on a sustainable trajectory.”

“Subsequently, Ghana embarked on the restructuring of both domestic and external debt

The OCC’s approval of bilateral debt treatment is expected to provide the impetus for the ongoing commercial debt (Eurobonds) negotiations,” a portion of his Facebook post said

Dr Kumah added that “the past week was marked by a significant development in the public debt trajectory following the unanimous approval of Ghana’s request for debt treatment under the G-20 Common Framework for Debt Treatment Beyond the Debt Service Suspension Initiative (CF-DSSI).”

“The 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