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IMF deal: We can manage – Ofori-Atta on external creditors’ cut-off date
Finance Minister Ken Ofori-Atta has stated that Ghana is open to any new cut-off date proposed by external creditors for the restructuring of Ghana’s external debt.
China is suggesting a December 2020 cut-off date instead of the previously agreed-upon date of December 2022.
This delay has affected Ghana’s meeting with the IMF Board for the next tranche of $600 million.
Speaking to journalists in Accra, Ken Ofori-Atta reiterated that Ghana is open to considering any date.
“For us, we can manage, so the issue is for the membership of the OCC [Official Creditor Committee ] to get comfortable, and so we hope that by the end of next week, we will have what we need so that the Fund Board can sit. Everybody is looking at the comparability of treatment in there and China and France certainly are co-chairs, so they have a good impact on what will happen, but we should be okay.”
This comes on the back of claims by the Minority Leader, Dr. Ato Forson, that the negotiation has suffered a setback and the next $600 million package is in limbo.
According to Mr. Forson, there is a disagreement between the government and the Official Creditors Committee regarding the cut-off point for the external debt to be included in the debt restructuring exercise. He insisted that this disagreement has put the release of the next tranche of $600 million in jeopardy.
Minority Leader, Dr. Cassiel Ato Forson who made the allegation during his concluding remarks on the 2024 budget debate in Parliament on Wednesday, November 29, 2023, said Ghana is currently in a tight spot.
“Mr. Speaker, it will interest you to know that there is a deadlock in the negotiation between Ghana and the International Official Creditors Committee (OCC) made up of China and the Paris Club 50. There is a major disagreement on the cut-off point, regarding the external debt that must be excluded from the restructuring. Mr. Speaker, I do not need to sound the alarm that at this point, Ghana is between a rock and a hard place.”
Source: Citinewsroom.com
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ASWIM lauds Prof Naana Jane Opoku-Agyemang
The Association of Women in the Media, (ASWIM) has congratulated Professor Naana Jane Opoku-Agyemang on her historic achievement as Ghana’s first female Vice President.
The association said her trailblazing journey with sterling accomplishments from academia to politics, is undoubtedly, a vivid inspiration to countless women and girls across Ghana and Africa.
This was contained in a statement signed by its president, Mrs Mavis Kitcher, and copied to The Spectator on Tuesday in Accra.
“ASWIM celebrates your remarkable career, marked by numerous firsts, including the first female Vice-Chancellor of the University of Cape Coast, (UCC), and the first female to hold a professional chair in Ghana, (UCC),” the statement said.
It said the accomplishments of Prof Opoku- Agyemang were clear testament to the brilliance, resilience and resourceful nature of the complete beautiful African woman.
“As she takes on this new role, ASWIM proudly lauds her commitment to education, women’s empowerment, distinguished public service and patriotism and is very confident that her pursuit of excellence, love for humanity, humility, decency, modesty and commitment to the welfare of the vulnerable will characterise Ghana’s political leadership and public service,” the statement added.
By Jemima Esinam Kuatsinu
Entertainment
Demolition of Fantasy Dome unfair — Mark Okraku-Mantey
Months after the Fantasy Dome was dismantled to make way for construction at the Ghana International Trade Fair site, the Deputy Minister of Tourism, Arts and Culture, Mr Mark Okraku-Mantey, has expressed concern over the manner the facility was destroyed.
In an interview on Daybreak Hitz with Andy Dosty, Mr Okraku-Mantey criticised the handling of the dome’s dismantling, suggesting that it could have been done without causing damage.
“I don’t think that leadership gave instructions that they should do what happened. The structure was a prefab but I hear the people destroyed it. That one, we cannot defend it. It is unfair to him (owner). Sometimes, you give instructions and people will go and do things that will make you look bad,” he stated.
When asked about any punitive measure against the workers responsible for the destruction, Mr Okraku-Mantey clarified that the Trade Fair does not fall under his ministry.
He said he had previously contacted the owner, Leslie Quaynor, to discuss relocating the dome, and even suggested the National Museum as a potential site, though it was too small.
The demolition of the 20,000-seater Fantasy Dome occurred on March 16, 2024.
According to Dr Agnes Adu, CEO of the Ghana Trade Fair Company Limited, the action was taken after multiple notices were given to Quaynor to vacate the premises for redevelopment, as per their tenancy agreement.
Dr Adu noted that all previous tenants had complied except for the Fantasy Dome.
Quaynor, in an interview with JoyNews, confirmed that his lease had ended, and was in the process of relocating the dome.
He had requested an extension, which was denied, leading him to seek a writ and an injunction from an Accra High Court to halt the demolition.
Despite this, the demolition proceeded, causing significant damage to the structure.
Quaynor described the incident as a major setback, not only for his business but also for the entertainment industry, which relies on venues like the Fantasy Dome.
