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Ghana not back to HIPC

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Minister for Information, Kojo Oppong Nkrumah

Information Minister, Kojo Oppong Nkrumah, has debunked claims that Ghana has once again been ranked in the category of Highly Indebted Poor Countries (HIPC).

According to him, the numerous publications making rounds on social media purporting that the country has returned to HIPC are false and fake news.

Speaking at the Nation Building Updates on Tuesday in Accra, the Minister noted that because the country is approaching a general election in December, there is a deliberate attempt to discredit the work government has done since assuming office in 2017 to revive the economy.

He said “there are suggestions being spread particularly on social media that Ghana has been declared HIPC again and I am sure you would have noticed that a lot of persons are sharing materials on social media that the IMF or World Bank has declared Ghana HIPC or listed Ghana as one of the HIPC countries and it is a suggestion that the economy is not as good a shape that we claim it is.

“For the avoidance of doubt and because we have also mentioned that we are aware that some persons in the weeks ahead of the elections will seek to spread a lot of false information and fake news, it is important to quickly respond to it right here and right now. Categorically, we say to you it is not true that Ghana has been declared HIPC or has been added to the list of HIPC countries.”

The HIPC was a group of 39 developing countries with high levels of poverty and debt overhang that qualified for financial assistance from the World Bank, the International Monetary Fund, and other multilateral, bilateral, and commercial creditors between 1996 and 2001.

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It was designed to ensure the reduction in the debt levels of poor and indebted countries.

The Minister emphasized that HIPC was a programme limited to a particular point in time that Ghana and a number of African countries applied, benefited, exited and was done with it.

“The publication out there lists the countries that participated and qualified for it. Currently, there is no HIPC program for any country to qualify for,” he clarified.

The Minister encouraged the general public to disregard such publications. He also admonished the media to be circumspect and thoroughly conduct background checks before publishing news items.