Speaking at the Nation Building Updates on Tuesday … According to World Bank parameters, if a country’s debt-to-GDP ratio […] 0000001887 00000 n According to him, the numerous publications making rounds on social media purporting that the country has returned to HIPC are false and fake news. Assistance is con… “The HIPC Initiative is essentially closed for countries that have already reached the Completion Point. The bulk of additional assistance under the enhanced HIPC Initiative will be delivered when Ghana completes a number of agreed measures. 0000005885 00000 n 0000002290 00000 n Since Ghana opted for the HIPC debt relief initiative and reached the completion point in June 2004 the country has received several billions of money into the HIPC account at the Bank of Ghana. IMF refutes ‘deceptive’ HIPC reports about Ghana. Heavily indebted poor countries (HIPC) Afghanistan; Benin; Bolivia; Burkina Faso; Burundi; Cameroon; Central African Republic; Chad; Comoros; Congo, Dem. 0000004126 00000 n The IMF further indicated that a recent update of Ghana’s debt-to-GDP ratio […] Ghana is not under HIPC: The International Monetary Fund (IMF) has denied classifying Ghana as a Highly Indebted Poor Country (HIPC) based on data on its website. Information Minister Kojo Oppong Nkrumah has debunked assertions that Ghana is back to being a Highly Indebted Poor Country (HIPC). The International Monetary Fund (IMF) has explained that Ghana has not been re-admitted into the Highly Indebted Poor Countries (HIPC) Initiative which it exited about 16 years ago. Find Out. Report convened detailed that, the World Bank has listed Ghana in the Category of the Highly Indebted Poor Countries on its website. The HIPC Initiative was launched in 1996 by the IMF, World Bank, and oher multilateral, bilateral and … Get the top HIPC abbreviation related to Ghana. … H��W�r�6}�W����(K��v4�N'�%Q6����S�H��� x�j�2�#�X��.Ξ]�%�7I"� �f$$q�������d7z3�}����K�����B��z�d��>�(a�_#^���x�d:r\�"�Fv�y��^2!���̉y@�� s��q�!��wf�zl�c1%W��Y2�o��\�Qr���L �3�e�H)�.4����t�->�/|�N�9g�6W� Ghana’s listing on the World Bank website as a Heavily Indebted Poor Country (HIPC) dates back to 2002 and has remained so to date. According to the Ofoase/Ayirebi constituency Member of Parliament, publications making rounds on the internet that Ghana has returned to HIPC are false and should be considered as fake. The latest information from the World Bank sees Ghana ranked as one of the Heavily Indebted Poor Countries (HIPC) globally. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). GSS Ghana Statistical Service . The Government of Ghana is developing a detailed plan for the use of funds made available through debt relief … World Bank has ranked Ghana as one of the Heavily Indebted Poor Countries (HIPC) in their new global HIPC rankings. Mr. Kojo Oppong Nkrumah has stated emphatically that Ghana has not been declared HIPC again. A set of floating triggers was agreed for Ghana to reach the completion point under the Initiative. Ghana - Enhanced Heavily Indebted Poor Countries (HIPC) Debt Initiative. The claim was based on the mention of Ghana’s name on the World Bank’s website as being amongst Highly Indebted Poor Countries. trailer << /Size 209 /Info 189 0 R /Root 193 0 R /Prev 708009 /ID[<3fc29de5d0b1f01ac67b9d2f441544fa>] >> startxref 0 %%EOF 193 0 obj << /Type /Catalog /Pages 186 0 R /AcroForm 194 0 R /Metadata 191 0 R >> endobj 194 0 obj << /DR 181 0 R /Fields [ ] /DA (/Helv 0 Tf 0 g ) >> endobj 207 0 obj << /S 560 /V 806 /Filter /FlateDecode /Length 208 0 R >> stream This site uses cookies to optimize functionality and give you the best possible experience. 0000002082 00000 n Dr. Albert Touna-Mama, Resident Representative of the ING to Ghana, ... it has returned to the unenviable club of Highly Indebted Poor Countries (HIPC)which it exited about 16 years ago. Leadership, organization, and history. Meanwhile, Information Minister, Kojo Oppong Nkrumah on Tuesday, October 27 also rebutted claims that Ghana has been listed among the Highly Indebted Poor Country (HIPC) status due to its declining economic situation. 0000200212 00000 n According to the IMF, Ghana has not been re-admitted into the Highly Indebted Poor Countries(HIPC) Initiative which it exited about 16 years ago. GoG Government of Ghana . Considering this new Wold Bank HIPC ranking, Ghana is now one of the developing countries with high levels of poverty and debt overhang which are eligible for special assistance from the International Monetary Fund (IMF) and the World Bank. The International Monetary Fund (IMF) says Ghana is not eligible for Highly Indebted Poor Country (HIPC) initiative but it is however classifying Ghana as a High risk of debt distress country. Countries are required to be in a loan program with the IMF in order to qualify for debt relief. According to him, the numerous publications making rounds on social media purporting that the country has returned to HIPC is false. Ghana HIPC abbreviation meaning defined here. Part of the funds has been given out in the form of micro-credit to poor … GPRS Ghana Poverty Reduction Strategy . According to him, the numerous publications making rounds on social media purporting that the country has returned to HIPC is false and fake news. Graph, map and compare more than 1,000 time series indicators from the World Development Indicators. The International Monetary Fund (IMF) has said Ghana has not been reinstated into the Highly Indebted Poor Countries (HIPC) Initiative. The World Bank has listed Ghana in the Category of the Highly Indebted Poor Countries on its website. Ghana’s Information Minister, Kojo Oppong Nkrumah has called on the general public to disregard claims that Ghana has been listed among the Highly Indebted Poor Countries (HIPC). 0000001577 00000 n The International Monetary Fund (IMF) has said Ghana has not been reinstated into the Highly Indebted Poor Countries (HIPC) Initiative. HPIC is defined as countries whose per capita income is less than $690 and at the time Ghana joined, per capita income was $390. Minister of Information, Kojo Oppong Nkrumah has debunked claims that Ghana has once again been ranked in the category of Highly Indebted Poor Countries (HIPC). There have been mixed reactions to the government's decision to opt for the HIPC initiative, which seeks to provide debt relief to cash-strapped countries based on the implementation of poverty alleviation strategies prescribed by the IMF and the World Bank. In 1995, the country spent US$635 million on debt service, this amount equaled about 40.2 per cent of total export earnings. As … HIPC Heavily Indebted Poor Countries IDA International Development Association IFC International Finance Corporation IMF International Monetary Fund ... Executive Boards of IDA and the IMF discussed the preliminary HIPC document for Ghana (IDA/R2001 -0111 of 6/12/01, and IMF/EBS/01/89 of 6/14/01) on July 3, 2001 and There have been several historical episodes of governments of developing countries borrowing in quantities beyond their ability to repay. 0000000691 00000 n New Bank of Ghana data shows that the country’s debt is now about 71 percent of the total value of the economy. G-RAP Ghana Research and Accountability Project . “Ghana is among the countries that graduated from the HIPC process (it did so in 2004 by reaching the Initiative’s completion point). International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building, Poverty headcount ratio at national poverty lines (% of population), GNI per capita, Atlas method (current US$), Statistical Capacity score (Overall average). There have been some media reports this week suggesting Ghana has been declared a HIPC country. A statement from the IMF’s Resident Representative to Ghana, Dr. Albert Touna-Mama said on Tuesday October 27 that “The HIPC Initiative is essentially closed for countries that have already reached the Completion Point. 0000001735 00000 n If you continue to navigate this website beyond this page, cookies will be placed on your browser. The debt of developing countries usually refers to the external debt incurred by governments of developing countries.. %PDF-1.4 %���� It provides debt reliefand low-interest loans to cancel or reduce external debt repayments to sustainable levels, meaning they can repay debts in a timely fashion in the future. Information Minister, Kojo Oppong Nkrumah has debunked claims that Ghana has once again been ranked in the category of Highly Indebted Poor Countries (HIPC). In February 2002, Ghana received $3.7 billion in debt service relief under the enhanced HIPC Initiative. Ghana joined Highly Indebted Poor Countries (HIPC) in 2001. But speaking at the Nation Building Updates on Tuesday, October 27, 2020, Information Minister, Kojo Oppong Nkrumah, rejected such claims. October 27, 2020. The trend observed in Ghana’s debt servicing has been increasing over the years. Ghana co-operates with other countries politically by being a member of international political organisations such as AU, UN and NEPAD( New Partnership For Africa's Development) 2. The country’s total debt stock stood at 89.5 billion cedi in May this year, representing 67.1 per cent of gross domestic product (GDP), but recent figures from the central bank showed that Ghana’s domestic and external debt stock surged, fuelling fears that it could sign up for being an HIPC. There have been reports that Ghana has gone beyond the HIPC threshold but the Central Bank governor, Dr Henry Wampah, said it is only government that can declare the country HIPC. Minister of Information, Kojo Oppong Nkrumah, has debunked claims that Ghana has once again been ranked in the category of Highly Indebted Poor Countries (HIPC). A […] 0000000786 00000 n In its September data, Ghana was among 36 countries categorised on the list of countries that have reached Completion Point and were to receive HIPC assistance. According to him, the numerous publications making rounds on social media purporting that the country has returned to HIPC is false and fake news. Document Details. GSGDA Ghana Shared Growth and Development Agenda . The HIPC Initiative was initiated by the International Monetary Fund and the World Bank in 1996, following extensive lobbying by NGOs and other bodies. Report convened detailed that, the World Bank has listed Ghana in the Category of the Highly Indebted Poor Countries on its website. By this, Ghana joins a group of other developing countries with high levels of poverty and debt overhang which are eligible for special assistance from the International Monetary Fund (IMF) and the World Bank. According to an e-mail responds sent to JoyBusiness, based on some questions sent to the Fund in Washington DC, it said any interpretation to that effect “may be deceptive.” Ghana - Enhanced Heavily Indebted Poor Countries (HIPC) Debt Initiative Toggle navigation. GHANA Enhanced Heavily Indebted Poor Countries (HIPC) Initiative – Preliminary Document Prepared by the Staffs of the IMF and the World Bank1 June 12, 2001 Contents I. HIPC doesn’t resolve the loan sharking crisis. This comes after reports on social media suggested Ghana had been re-admitted into the programme that it departed 16 years ago in 2004. Ghana spent around US$409.7 million on debt servicing in of goods and non-factor services. The IMF has already debunked the claim, explaining that no country can get unto the HIPC initiative twice. This the Minister emphasized that the HIPC was a programme limited to a particular point in time that Ghana and a number of African countries applied, benefited, exited, and was done with it. In a response to an email sent by Joy Business seeking interpretation on Ghana’s position as one of the countries … The heavily indebted poor countries (HIPC) are a group of 39 developing countries with high levels of poverty and debt overhang which are eligible for special assistance from the International Monetary Fund (IMF) and the World Bank. Ghana continued Ghana completed the HIPC process in 2004 and … The HIPC Initiative is essentially closed for countries that have already reached the completion Point,” Dr Touna-Mama said in the email. Minister of Information, Kojo Oppong Nkrumah, has debunked claims that Ghana has once again been ranked in the category of Highly Indebted Poor Countries (HIPC). To learn more about cookies, click here. The joint IMF–World Bank comprehensive approach to debt reduction is designed to ensure that no poor country faces a debt burden it cannot manage. It stated that, the HIPC initiative is closed for countries that have benefitted. A report projects Ghana’s debt to GDP which currently stands at 68.3% will hit 76.7% by the end of December 2020. A report projects Ghana’s debt to GDP which currently stands […] Rep. Congo, Rep. Cote d'Ivoire; Eritrea; Ethiopia; Gambia, The; Ghana; Guinea; Guinea-Bissau; Guyana; Haiti; Honduras; Liberia; Madagascar; Malawi; Mali; Mauritania; Mozambique; Nicaragua; Niger; Rwanda; Sao Tome and … ��:!�yd���^Ý�G�]�p�=����C����_:�R��Gz�p׷�G��c���z�v���b0K��v��5+��b����,}̷O��\�b�1�xL� �͙pa\��\:)�ES�YMn��\�F�����1O�e�7y���Ǽl��l��Ww�4/��L��~�M�����qT��Q-�p�����TG��!� �NP�KOL 0�`}z�7W4#�}�n65)7kokL��K&qy`�@��$-������AG�����cDK6��kr�8�!i�I/q���* �?�pG���;�x�Q�=���P\�=�܅յa�I �����H�����^"v,��mx=)L��-h֎�c8pzq�3`@u��+� hi/;]R�38��FMU���&GR�����vQ�)��pڑ@7i�:����̶�d͗�6o4�%�]”6�@�ż�L���>9�u�� J���RG�������v&�L~��,���� �.�>%�o��d�Av�`y4/���CQ�I1�=�M�(Wy�%��1�Z�� ,��+�#r��I��>���*�*�5țy}zL�YP�r���� �9�n,"d���Ҋ�s��ٲ����J�B�@uv�"��5 �(�1�kM����ȱ���mf�%F�G(]�d�1���rH��j}�˂�������m�M�B]�ﬠ0�|KQ��̈ЋW8��k9�h*�M���r��F)i�U���I�%D�:�?�,i�a~����r�䓣���k�]�/�w��eH@l���3��Y�>�j��w@m�a?$�Cj�\5H�g��Jub��p_`�"+j �8`��:�)���� 2�� �N��Knh��Yyd���`�ln� 4"�QP:��*����_��'��$���r��ʹ��˼hjT�Szw�:l�D{�Ŝh���Q~�z��4��#�n%�./��z�oϝaށ,�,��>40]�s��`C��O��@ ��j�tUB�YV7�8�u�} u�֐ ��c�����F���^Un���W��Fz'������g��Î���Nl�P�{[���۞{�׫}]��������9����b5�^�>�;��9����p/\��W28B�R��������f�(�[k����e���F��Y2��J�� :'�-4���\E�*ak�&1��Db�%,#. HIPC was a programme designed for some 39 developing countries with high levels of poverty and debt overhang, including Ghana, to benefit from financial assistance from the World Bank, the International Monetary Fund, and other multilateral, bilateral and commercial creditors, between 1996 and 2001. GLSS 5 Ghana Living Standards Survey 5 . All of Ghana’s neighbours are in the 36-country list. The International Monetary Fund (IMF) says Ghana is not eligible for Highly Indebted Poor Country (HIPC) initiative but it is List of Heavily Indebted Poor Countries. Ghana co-operates with other countries economically by being part of economic blocs (groups) such as ECOWAS(Economic Community Of West African States), Group 77(G-77) and World Trade … Population, total - Heavily indebted poor countries (HIPC), Ghana from The World Bank: Data Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Categorically we say to you it is not true that Ghana has been declared HIPC or has been added to the list of HIPC countries,” he added. The Minister emphasized that the HIPC was a programme limited to a particular point in time that Ghana and a number of African countries applied, benefited, exited and was done with it. The International Monetary Fund (IMF) has said Ghana has not been reinstated into the Highly Indebted Poor Countries (HIPC) Initiative. Eligible countries qualify for debt relief in two stages. Speaking at the Nation Building Updates on Tuesday, 26 October 2020 in Accra, Mr Nkrumah noted that as the country goes into the polls in December, some persons will seek to spread a lot of falsehood. An Economist and Professor of Finance at the University of Ghana Business School, Godfred Bokpin, says Ghana’s return to HIPC (Highly Indebted Poor Country) is not surprising. He said: “There are … In a response to an email sent by Joy Business seeking interpretation on Ghana’s position as one of the countries that have qualified for, […] “Ghana exited the HIPC programme in 2004, from 1996 the IMF and World Bank have been publishing countries that get in an out of their programmes, What we have noticed the flagbearer of the NDC is going around spreading falsehood and his social media team are amplifying it claiming Ghana’s mention on that list from 1996 means we are back to HIPC. Jonas Nyabor. BROADCASTGHANA has established that Ghana has been listed among the HIPC Countries. Ken Ofori-Atta in Parliament insisted that the Ghanaian economy is stronger now than it was four years ago. GPF Growth and Poverty Forum . At the time Ghana went to “HIPC”, debt to GDP ratio was around 113%. Countries graduating from the HIPC process cannot re-apply for debt relief under the HIPC Initiative,” the Bank said. Online tool for visualization and analysis. Speaking at the Nation Building Updates […] The International Monetary Fund (IMF) has dismissed reports that Ghana has been declared a Highly Indebted Poor Country (HIPC). H�b```�h�OB cb� Pc `8d�`e�����?+�Fv��H���,\$��Y70d0�0�1�b�}�|�7cs[���3�������{��G!�@����A�3��F�C��'����)�`p��EH!bAb#+���FG�V�Ƥ&f. As you may recall, Ghana successfully reached the Completion Point in July 2004,” a statement from the IMF’s Resident Representative to Ghana, … 0000005860 00000 n Yen.com.gh News ☛ The World Bank Country Director Pierre Frank LaPorte has stated that Ghana’s rising debt levels places it at pre-HIPC levels and must be checked to prevent the figure from escalating further. West African nations like Liberia, Senegal, The Gambia and Guinea also find themselves in the list. To be considered for the initiative, countries must face an unsustainable debt burden which cannot be managed with traditional means. Ghanaians, have been left confused by the Akufo-Addo government, the International Monetary Fund (IMF), Economists and Academia, over the country's debt status and whether or not, it has returned to the unenviable club of Highly Indebted Poor Countries (HIPC)which it … Ghana’s Information Minister, Kojo Oppong Nkrumah has called on the general public to disregard claims that Ghana has been listed among the Highly Indebted Poor Countries (HIPC). Part of the funds has been given out in the form of micro-credit to poor households to help reduce their poverty situation. Ghana has made the list of countries that are eligible to receive assistance under the Highly Indebted Poor Country initiative by the International Monetary Fund (IMF). The country was ranked in the same category as Afghanistan, Burundi, Benin, Chad, Sierra Leone, Cote d’Ivoire, Haiti among others. 0000005910 00000 n On Tuesday, October 27, 2020 there were various social media reports claiming that the Akufo-Addo-led government has led Ghana into the category of Heavily Indebted Poor Countries (HIPC) Flagbearer of the NDC, and former President John Dramani Mahama while enaging some professionals is reported to have reiterated the claim on Monday, October 26, … Information Minister, Kojo Oppong Nkrumah, has debunked claims that Ghana has once again been ranked in the category of Highly Indebted Poor Countries (HIPC). After months of speculations, the country is now officially classified as Highly Indebted Poor Country (HIPC), data from the Bank of Ghana indicate. Both IDA and the IMF will begin providing debt relief immediately, as will most official bilateral creditors. According to the Bretton Wood institution, countries that have graduated from the HIPC process cannot re-apply for debt relief under the … Meanwhile, the IMF country office in Ghana on Tuesday, October 27, issued a statement to debunk the claim that Ghana has officially been declared HIPC. “The publication out there list the countries that participated and qualified for it. This comes after reports on social media suggested Ghana … According to the Ofoase/Ayirebi constituency Member of Parliament, publications making rounds on the internet that Ghana has returned to HIPC are false and should be considered as … The International Monetary Fund (IMF) says Ghana is not eligible for Highly Indebted Poor Country (HIPC) initiative but it is however classifying Ghana as a High risk of debt distress country. 0000001555 00000 n In February 2002, the Executive Boards of the International Monetary Fund (IMF) and the International Development Association (IDA), agreed to support a comprehensive debt reduction package for Ghana under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative. 0000000859 00000 n Social media users claim the Akufo-Addo government has led Ghana into the group of Heavily Indebted Poor Countries (HIPC). Join Our WhatsApp Group TMMOTIONGH has established that Ghana has been listed among the HIPC Countries. The IMF has debunked the claims that Ghana has been added to the list of HIPC. HLF High Level Forum 0000003568 00000 n 4 mins read. African countries in particular. There were mixed reactions in Ghana when the new government, under the leadership of former President Kufuor, decided to opt for the HIPC initiative in 2001. A report projects Ghana’s debt to GDP which currently stands at 68.3% will hit 76.7% by the end … 0000003387 00000 n The Minister of Information, Kojo Oppong Nkrumah, has refuted media reports suggesting that Ghana has been listed as a Highly Indebted Poor Country (HIPC) due to … HIPC continues to demand that countries implement the same failed SAP conditions in order to get relief. The International Monetary Fund (IMF) has explained that Ghana has not been re-admitted into the Highly Indebted Poor Countries (HIPC) Initiative which it exited about 16 years ago. The International Monetary Fund (IMF) also refuted claims that Ghana has again been added to the list of Heavily Indebted Poor Countries. HIPC cannot be an end, we'll need to work more to attain the desired goals." Out of this amount, external debt acco Read Also: World Bank warns Ghana to curb its fiscal deficit Speaking at the Nation Building Updates on […] 4�H31��1 Ѐ�; endstream endobj 208 0 obj 602 endobj 195 0 obj << /Type /Page /Parent 185 0 R /Resources 196 0 R /Contents 202 0 R /MediaBox [ 0 0 612 792 ] /CropBox [ 0 0 612 792 ] /Rotate 0 >> endobj 196 0 obj << /ProcSet [ /PDF /Text ] /Font << /TT2 199 0 R /TT4 201 0 R >> /ExtGState << /GS1 206 0 R >> /ColorSpace << /Cs5 200 0 R >> >> endobj 197 0 obj << /Type /FontDescriptor /Ascent 891 /CapHeight 0 /Descent -216 /Flags 34 /FontBBox [ -558 -307 2034 1026 ] /FontName /TimesNewRoman,Bold /ItalicAngle 0 /StemV 133 >> endobj 198 0 obj << /Type /FontDescriptor /Ascent 891 /CapHeight 0 /Descent -216 /Flags 34 /FontBBox [ -568 -307 2028 1007 ] /FontName /TimesNewRoman /ItalicAngle 0 /StemV 0 /FontFile2 205 0 R >> endobj 199 0 obj << /Type /Font /Subtype /TrueType /FirstChar 31 /LastChar 255 /Widths [ 778 250 333 408 500 500 833 778 180 333 333 500 564 250 333 250 278 500 500 500 500 500 500 500 500 500 500 278 278 564 564 564 444 921 722 667 667 722 611 556 722 722 333 389 722 611 889 722 722 556 722 667 556 611 722 722 944 722 722 611 333 278 333 469 500 333 444 500 444 500 444 333 500 500 278 278 500 278 778 500 500 500 500 333 389 278 500 500 722 500 500 444 480 200 480 541 778 500 778 333 500 444 1000 500 500 333 1000 556 333 889 778 778 778 778 333 333 444 444 350 500 1000 333 980 389 333 722 778 778 722 250 333 500 500 500 500 200 500 333 760 276 500 564 333 760 500 400 549 300 300 333 576 453 250 333 300 310 500 750 750 750 444 722 722 722 722 722 722 889 667 611 611 611 611 333 333 333 333 722 722 722 722 722 722 722 564 722 722 722 722 722 722 556 500 444 444 444 444 444 444 667 444 444 444 444 444 278 278 278 278 500 500 500 500 500 500 500 549 500 500 500 500 500 500 500 500 ] /Encoding /WinAnsiEncoding /BaseFont /TimesNewRoman /FontDescriptor 198 0 R >> endobj 200 0 obj [ /CalRGB << /WhitePoint [ 0.9505 1 1.089 ] /Gamma [ 2.22221 2.22221 2.22221 ] /Matrix [ 0.4124 0.2126 0.0193 0.3576 0.71519 0.1192 0.1805 0.0722 0.9505 ] >> ] endobj 201 0 obj << /Type /Font /Subtype /TrueType /FirstChar 32 /LastChar 150 /Widths [ 250 0 0 0 0 0 0 0 333 333 0 0 250 333 250 0 500 500 500 500 500 500 500 500 500 500 333 0 0 0 0 0 0 722 667 722 722 667 611 778 778 389 0 778 667 944 722 778 611 0 722 556 667 722 722 0 0 722 0 0 0 0 0 0 0 500 556 444 556 444 333 500 556 278 333 556 278 833 556 500 556 556 444 389 333 556 500 722 500 500 444 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 500 ] /Encoding /WinAnsiEncoding /BaseFont /TimesNewRoman,Bold /FontDescriptor 197 0 R >> endobj 202 0 obj << /Length 1658 /Filter /FlateDecode >> stream This the Minister emphasized that the HIPC was a programme limited to a particular point in time that Ghana and a number of African countries applied, benefited, exited and was done with it. The International Monetary Fund (IMF) has refuted claims that Ghana has again been added to the list of Heavily Indebted Poor Countries (HIPC). He said this at the Nation Building updates on 27th October, 2020. HIPC Heavily Indebted Poor Country . The International Monetary Fund(IMF) have reacted to news that Ghana has been re-admitted into the Highly Indebted Poor Countries (HIPC). Debt Relief Under the Heavily Indebted Poor Countries (HIPC) Initiative. Every HIPC country continues to need new loans and continues to borrow from the World Bank and IMF. What does HIPC stand for in Ghana? Who We Are. He chastised the government's management of the economy citing the country's rising public debt stock as a situation that can take Ghana back to being a Highly Indebted Poor Country (HIPC). 192 0 obj << /Linearized 1 /O 195 /H [ 859 718 ] /L 711979 /E 200443 /N 26 /T 708020 >> endobj xref 192 17 0000000016 00000 n ��LG�y84�X��$�\�Ex�t�ih46�ux,Lbl��R�f�S jGtJ&�r�4\�ŕ�e�u��u=mE�����o�ke�0X��)v涇��^���Œ�N T�����UXCa�����v�����3�Qy�����P.%M���*���*E�Y$��tk=����������a�h8��`�@1��A�`6��R(T��� PD�� 8�l�1@Md`�� �SX��b�c�q(L+� Lkv0�8p^��`[���� }{�9���E�`�.X&���&�*2O��,�n����E�0�0�01H_`c`�̠��e�4����ف?����3� � X��`+��8;0�K�/ K ;9�?��n���0n�D���j �� e0���\�~�� First, the debtor country has to demonstrate the capacity utilise the assistance and secondly, the country will implement a full-fledged poverty reduction strategy. Since Ghana opted for the HIPC debt relief initiative and reached the completion point in June 2004 the country has received several billions of money into the HIPC account at the Bank of Ghana. “The HIPC Initiative is essentially closed for countries that have already reached the Completion Point. Find Out Ghana data shows that the country ’ s debt is now about 71 of. Delivered when Ghana completes a number of agreed measures there list the Countries that already... The latest information from the World Development indicators spent around US $ 409.7 million debt! With COVID-19 ( coronavirus ) than 1,000 time series indicators from the World Bank has listed in... … ] Learn how the World Bank sees Ghana ranked as one the. Suggested Ghana had been re-admitted into the Group of Heavily Indebted Poor Countries ( HIPC ).... Bank of Ghana is back to being a Highly Indebted Poor Countries begin providing debt relief … Jonas Nyabor the! 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