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Multipolar currency world presents lifeline opportunities for Ghana - Vimarsana News

Multipolar currency world presents lifeline opportunities for Ghana

Over the years, the foreign policy decisions of weak economies have been sometimes directed to them by their rich and powerful donors or development partners. For instance, Ghana’s socialist policies and her strong ties with the eastern bloc states like Cuba, Romania, Yugoslavia, Libya and the erstwhile Soviet Union in the early 1980s, had to shift swiftly towards the western capitalists for financial assistance to develop her shambolic economy at the time, as the communists could not assist her to rebuild[1].

Ghana struggles to make progress on G20 debt treatment plan, warns World Bank - Vimarsana News

Ghana struggles to make progress on G20 debt treatment plan, warns World Bank

The World Bank’s latest April 2023 Africa Pulse Report highlights the dire state of Ghana’s debt crisis.

Ghana yet to make progress with G20 Common Framework Debt Treatment – World Bank - Vimarsana News

Ghana yet to make progress with G20 Common Framework Debt Treatment – World Bank

“Ghana requested a Common Framework debt treatment in early 2023; hence, progress has yet to be made. In conjunction with the Common Framework engagement, Ghana conducted a voluntary domestic debt exchange programme. Other countries engaged with private creditors and bilateral donors engaged in external restructuring efforts through bilateral engagements (Malawi)”.