Audio By Carbonatix
An international relations analyst, Dr Ishmael Hlovor, has called on the Ghanaian government to honour its payment agreements with international creditors to rebuild trust and maintain access to global financial support.
His comments come after the U.S. government, represented by Senator James Risch recently urged U.S. Treasury Secretary Janet Yellen to leverage America’s influence as the IMF’s largest shareholder to ensure Ghana honours its obligations to American companies.
He suggested withholding U.S. support for future IMF assistance until Ghana repays its debts.
Read also; U.S. Senator wants Ghana to pay off debts to American companies with IMF funding or…
In an interview on Joy FM's Middaynews on Thursday, January, 16, Dr Hlovor noted that these actions are a clear signal from the U.S. to Ghana about the importance of honouring international obligations.
"What the Senator is trying to do is use U.S. influence within the IMF to put pressure on Ghana to address its financial commitments. They are emphasising that without honouring these obligations, Ghana risks losing future international financing," Dr Hlovor explained.
Dr Hlovor emphasised the need for Ghana to engage with its creditors and develop realistic payment plans. He warned that repeated defaults on agreed schedules erode trust and damage Ghana’s credibility in the global financial community.
Read also; Tap into reserves for debt repayment amid growing international pressure – Prof Peprah to gov’t
"If you agree on a payment plan with a creditor and keep defaulting, they lose trust in you. This jeopardizes your economic relationships and discourages foreign investors from considering Ghana as a viable destination," he stated.
He, therefore, urged the government to implement a sustainable payment strategy, honour commitments on time, and work to re-establish trust among international stakeholders.
The analyst also noted that if Ghana does not take corrective measures, the U.S., as a significant stakeholder, could influence the IMF to withhold further financial programmes, thereby isolating Ghana from critical international support.
Latest Stories
-
Free Primary Healthcare Programme set for take-off — Health Ministry confirms readiness
13 minutes -
3 co-wives, 5 children perish in canoe disaster – Maritime Authority insists life jackets use mandatory for all water transport
1 hour -
Iran war lands ‘triple blow’ to flood-ravaged Sri Lankans
2 hours -
Gunmen kill at least 11 people at Afghanistan picnic spot
2 hours -
Woman, 25, in court for stealing baby at Bogoso
2 hours -
Trump unveils giant gold-accented victory arch design for US capital
2 hours -
We spoke to the man making viral Lego-style AI videos for Iran. Experts say it’s powerful propaganda
2 hours -
Hungarians vote in big numbers on whether to end Orbán rule and elect rival
2 hours -
At least 30 feared dead in crush at Haitian tourist site
2 hours -
Boxing: Abdul Ahmed wins WBA Africa Cruiserwight title after dispatching Nigeria’s Eradeye
2 hours -
Nearly 2,000 displaced, schools damaged as windstorm wreaks havoc in Gushegu
3 hours -
Ghana’s Derrick Kohn to work under Marie-Louise Eta as she becomes first woman to coach men’s Bundesliga team
3 hours -
Accra Open Championships conclude with strong performances ahead of African Championships
3 hours -
Ghana to begin camping with 12 athletes after Accra Open Championships – Bawa Fuseni
3 hours -
Anthony Joshua declines showdown with Tyson Fury but admits they ‘probably’ clash next
3 hours