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Ghana secures Paris Club financing assurance for $3bn IMF bailout
China and the Paris Club have agreed to provide the debt assurances required to aid Ghana’s request for a balance of payment support from the International Monetary Fund (IMF).
They have thus asked all private creditors and other official bilateral creditors to commit to Ghana’s deal without any further delay.
This was contained in a press statement issued by the Paris Club on Friday, May 12.
“The creditor committee stresses that the Ghanaian authorities are expected to seek from all private creditors and other official bilateral creditors debt treatments on terms at least as favourable as those being considered by the creditor committee, in line with the comparability of treatment principle.
“Consequently, the creditor committee urges private creditors and other official bilateral creditors to commit without delay to negotiate with Ghana such debt treatments that are crucial to ensure the full effectiveness of the debt treatment for Ghana under the Common Framework,” excerpts of the statement said.
Also, a creditor committee for Ghana has been formed by countries with eligible claims to see to the quick implementation of the resolution. The creditor committee is expected to be co-chaired by China and France.
“The creditor committee examined the macroeconomic and financial situation of Ghana, including its long-term debt sustainability, and its formal request for a debt treatment under the “Common Framework for Debt Treatments beyond the DSSI” endorsed under the Saudi G20 Presidency in November 2020, which was also endorsed by the Paris Club.”
“The creditor committee supports Ghana’s envisaged IMF upper credit tranche (UCT) program and its swift adoption by the IMF Executive Board to address Ghana’s urgent financing needs. The creditor committee encourages Multilateral Development Banks (MDBs) to maximize their support for Ghana to meet its long-term financial needs,” the statement added.
Consequently, the Finance Ministry has taken to Twitter to express gratitude to all who have supported Ghana’s cause.
“The Paris Club has today established the OCC (co-chaired by China & France). With the granting of Financing Assurances, Ghana is now ready to go to the IMF Board. Thank you to all our bilateral partners for helping us reach this significant milestone! #ResolvingTogether.”
On Thursday, Information Minister Kojo Oppong Nkrumah had said the country would soon secure a bailout from the International Monetary Fund (IMF).
According to him, Ghana’s package was virtually ready to be presented for approval any moment now following the government’s successful engagement with Ghana’s creditors.
Mr Oppong Nkrumah said this was according to information from government sources within the Bretton Woods institution.
Source: Myjoyonline.com
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GEXIM to host “SME GO” programme stakeholder sensitisation and fair on September 18
The Ghana Export – Import Bank (GEXIM) in collaboration with the Ministry of Finance, Ministry of Trade and Industry, Ghana Enterprises Agency and Development Bank of Ghana will be hosting the final phase of the stakeholder sensitisation exercise on the Small and Medium-sized Enterprises Growth and Opportunity (SME GO) Programme at the Bank’s headquarters located at the Africa Trade House, in Accra.
The stakeholder sensitisation event is scheduled to take place on Wednesday SSeptember18, 2024 at 10 am and will give attendees a deeper insight into the SME GO Programme with a focus on the dynamics of the programme, eligibility criteria application process and how the initiative seeks to assist Ghanaian SMEs to scale up and compete favorably in the international marketplace.
The confirmed speakers and dignitaries for the event will highlight how Ghanaian SMEs can leverage on the SME GO Programme to build the capacities and make them sustainable.
They include Hon. Abena Osei-Asare, Minister of State at the Ministry of Finance, Hon. K. T. Hammond, Minister of Trade and Industry, Hon. Nii Kwartei Titus Glover, Greater Accra Regional Minister as well as the Chief Executive Officers of the Ghana Enterprises Agency and Development Bank of Ghana.
Alongside the stakeholder sensitisation event, GEXIM will be hosting a special edition of its popular SME Fair dubbed “SME GO Mart” at the forecourt of the Africa Trade House, from 8am to 8pm.
The theme for the “SME GO Mart” is “Celebrating Ghanaian SMEs” and it will provide a platform for Ghanaian entrepreneurs to showcase various top-quality Made-In-Ghana products.
Over hundred Ghanaian entrepreneurs with unique products have been confirmed to participate in the fair.
They will be exhibiting several unique and authentic products at unbeatable prices including food and ingredients, beverages, skin and beauty care products, textiles, apparel, garments, leather footwear, slippers, and many others.
In July 2024, the Government of Ghana through the Ministry of Finance launched the SME GO Programme, a ground breaking initiative which sought to provide Ghanaian SMEs with the needed funds, requisite technology and knowledge as well as other relevant resources and tools to aid their growth to become international giants.
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Zipline, GHS reduce maternal mortality in Ashanti Region by 56.4% – Study
A recent impact assessment study on aerial logistics to improve maternal health and emergencies has revealed a remarkable reduction in maternal mortality by 56.4% in Ghana’s Ashanti Region, thanks to the collaborative efforts of Zipline and the Ghana Health Service (GHS).
This was revealed at the National Ghana Health Service Research Conference organized by the Ghana Health Service in partnership with Zipline. The study, which focused on the impact of aerial logistics in healthcare, also noted a 19.9% increase in antenatal visits and a 25% rise in in-facility births, signaling a significant boost in maternal health outcomes.
The success according to the study is attributed to the on-demand availability of blood and essential medical supplies provided by Zipline’s innovative drone delivery system. This consistent access to critical resources has increased patient confidence in the healthcare system, encouraging more mothers to seek necessary care throughout their pregnancies.
Speaking on the highlight of the study, the Research Officer at Ashanti Regional Health Directorate stated, “the significant decrease in maternal mortality we’ve seen is a clear indication of the vital role that reliable access to medical supplies plays in healthcare. The ability to deliver blood and essential medicines exactly when they’re needed has transformed how mothers in the Ashanti Region perceive and engage with the healthcare system.”
“It’s an achievement that speaks to the importance of introducing technology in healthcare delivery. Mothers now feel more confident in seeking care, knowing that they will receive the support they need throughout their pregnancies,”he stated.
The study examined data from 191 health facilities, including hospitals, health centers, and Community-based Health and Planning Services (CHPS) Compounds. Among these, 99 facilities were served by Zipline’s aerial logistics, while 91 were not. The research employed adjusted rates for various key indicators, such as antenatal consultations, emergency visits, referrals, live births, hysterectomies, maternal deaths, and neonatal deaths, as the main dependent variables.
The qualitative aspect of the study aimed to describe and analyze the changes in satisfaction levels among healthcare providers and patients, perceived quality of care in maternal health and emergencies, and experiences related to the use of aerial logistics. In-depth interviews were conducted with 22 patients and 23 healthcare providers at the participating facilities.
Globally, maternal mortality remains a critical public health challenge, with stark disparities between high-income and low-to-middle-income countries (LMICs).
According to the World Health Organization (WHO), the majority of maternal deaths occur in LMICs, often due to preventable causes. In Ghana, particularly in the Ashanti Region, the problem is critical, reflecting the broader challenges faced across the African continent. Beyond this, socio-economic, geographic, and infrastructural factors intensify the risks associated with pregnancy and childbirth, highlighting the urgent need for innovative solutions to improve maternal health outcomes.
As maternal mortality continues to pose a challenge in low-to-middle-income countries, the success seen in Ghana’s Ashanti Region offers a promising model for other regions and nations striving to improve maternal health outcomes through innovative solutions.
Zipline is poised to continue leading the way in revolutionizing healthcare delivery, ensuring that every mother has access to the life-saving resources, no matter where she lives.
