The implementation of the initiative is being supported by the World Bank and the IMF, by monitoring spending, enhancing public debt transparency, and ensuring prudent borrowing.According to reports, payments covered are not forgiven but delayed, with a repayment period of five years and a one-year grace period.
Ghana’s Minister of Finance and Economic Planning, Ken Ofori-Atta said: “We all know that the COVID-19 pandemic will persist for the next two to three years.Mr Ofori-Atta said the cascading effects of COVID-19 were “a frightening thing for a finance minister to witness when they don’t have the means to respond.”
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