Professor of Finance at Andrews University, Michigan, USA, Prof William Peprah, has urged the government of Ghana to utilise part of the country's $4.2 billion reserves to address outstanding debts to multinational suppliers.
In an interview on Joy FM's Middaynews on Thursday, January 16, Prof Peprah noted that this proactive approach would ease tensions, demonstrate good faith, and secure the next $750 million tranche of International Monetary Fund (IMF) funding. "At least, use some of the $4.2 billion we have in our reserve to start making some of these payments.
And this will help Ghana to receive the next $750 million that we are expecting.
Bank of Ghana reports on our balance of payment account and net international reserve account, and we have about $4.2 billion.