
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
-
Manhyia South MP recounts alleged attempt to forcibly take him to EOCO
11 minutes -
‘I had to drive off to safety’ – Nana Agyei Baffour Awuah on why he fled after High Court clash
17 minutes -
Nkrumah was a lonely man because of Pan-African vision – PLO Lumumba
22 minutes -
P.L.O Lumumba calls for end to ‘primitive accumulation’ in public office
23 minutes -
Attempted arrest of Manhyia South MP in that manner a retrogression in Ghana’s democracy – Martin Kpebu
29 minutes -
Peace in an age of fragmentation: Why global cooperation matters more than ever
33 minutes -
Nkrumah’s vision for African dignity remains relevant – P.L.O. Lumumba
51 minutes -
Court jails mason 4 years for GH¢44,800 fraud
52 minutes -
Ghana, Norway seek closer trade and security ties after UNGA talks
59 minutes -
AG responds to $235m Teshie desalination award, says tribunal rejected $402m claim
1 hour -
Chiefs can help stop galamsey where government enforcement struggles – KNUST Professor
1 hour -
Mahama’s rekindling Ghana’s Pan-African role echoing Nkrumah’s vision – P.L.O. Lumumba
1 hour -
Gov’t already in advanced talks to buy Teshie desalination plant to avert $235m payout
1 hour -
Tema-Kpone road had no valid contract or approved scope of work – Roads Minister
1 hour -
You pay for electricity, water but not roads – Roads Minister chides Tema companies
1 hour