{"id":57010,"date":"2023-10-16T06:45:05","date_gmt":"2023-10-16T06:45:05","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=57010"},"modified":"2023-10-16T06:35:46","modified_gmt":"2023-10-16T06:35:46","slug":"government-announces-the-resumption-of-development-projects-across-ghana","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/government-announces-the-resumption-of-development-projects-across-ghana","title":{"rendered":"Government announces the resumption of development projects across Ghana"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>The government has announced the resumption of all temporarily suspended development projects across the country immediately after an agreement with External Creditors on debt treatment.<\/b><\/p>\n

Mr Kojo Oppong Nkrumah, Information Minister, made this announcement in an interview at the 2023 International Monetary Fund (IMF)\/World Bank Group (WBG) Annual Meetings in Marrakech.<\/p>\n

He explained that only infrastructure projects that were funded with external loans that the government halted because of the suspension in external debt servicing.<\/p>\n

\u201cOnce we\u2019re done with restructuring the external debt those [development projects] can resume as quick as possible,\u201d the Information Minister explained.<\/p>\n

\u201cI\u2019m not going to put timelines on it, but the feedback we\u2019re getting is pretty positive and we can even start getting some Memorandum of Understanding (MoU) very soon,\u201d he said.<\/p>\n

He noted that once those MoUs were reached, government would be clear on how quickly it could get back on track with those projects to boost economic activities and create more jobs, especially for the youth.<\/p>\n

Ghana has secured financing assurances from China and France for an MoU for the country\u2019s external debt restructuring, following \u201ctremendous progress,\u201d Mr Ken Ofori-Atta, Finance Minister said on Friday.<\/p>\n

The two countries are Co-Chairs for Official Creditors Committee under the Group of Twenty (G20) common framework for debt treatment, with China being the largest holder of Ghana\u2019s external debt, accounting for some US$1.7bn.<\/p>\n

Mr Ofor-Atta noted that engagement with China and France had seen no reluctance or opposition in getting the MoU for external debt restructuring signed by the third week of November 2023.<\/p>\n

During this same period, the IMF Executive Board would meet over the approval of the country\u2019s second tranche of US$600 million.<\/p>\n

\u201cThe Chinese government within the past months is close to reaching a similar deal with Zambia, Sri Lanka, and Suriname, so, following that trend, we expect some similar cooperation from them to come to Ghana,\u201d the Minister said.<\/p>\n

Ghana suspended all debt servicing payments on some external debt in December 2022, as part of debt restructuring process and an interim measure to support financial stability.<\/p>\n

It included Eurobonds, commercial term loans, and some bilateral debts, but excluded payments of multilateral debts.<\/p>\n

Some government projects, including the completion of the Obetsebi Lamptey road extension, La and Shama General hospitals, and the Adomi bridge, have been affected as a result of such decision.<\/p>\n

All these and other important infrastructure projects are expected to resume once the MoUs for the external debt treatment were signed.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. The government has announced the resumption of all temporarily suspended development projects across the country immediately after an agreement with External Creditors on debt treatment. Mr Kojo Oppong Nkrumah, Information Minister, made this announcement in an interview at the 2023 International Monetary Fund (IMF)\/World Bank Group (WBG) Annual Meetings in Marrakech. He […]<\/p>\n","protected":false},"author":84,"featured_media":57009,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[5092,5096,429],"class_list":["post-57010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nGovernment announces the resumption of development projects across Ghana - Ghana<\/title>\n<meta name=\"description\" content=\"The government has announced the resumption of all temporarily suspended development projects across the country imme ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-announces-the-resumption-of-development-projects-across-ghana\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government announces the resumption of development projects across Ghana\" \/>\n<meta property=\"og:description\" content=\"The government has announced the resumption of all temporarily suspended development projects across the country imme ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-announces-the-resumption-of-development-projects-across-ghana\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-16T06:45:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/10\/sm_1697425438.246253.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-announces-the-resumption-of-development-projects-across-ghana#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-announces-the-resumption-of-development-projects-across-ghana\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Government announces the resumption of development projects across Ghana\",\"datePublished\":\"2023-10-16T06:45:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-announces-the-resumption-of-development-projects-across-ghana\"},\"wordCount\":436,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-announces-the-resumption-of-development-projects-across-ghana#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/10\/sm_1697425438.246253.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-announces-the-resumption-of-development-projects-across-ghana#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-announces-the-resumption-of-development-projects-across-ghana\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/government-announces-the-resumption-of-development-projects-across-ghana\",\"name\":\"Government announces the resumption of development projects across Ghana - 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