Yofi Grant
Chief Executive Officer (CEO) of the Ghana Investment Promotion Center (GIPC), Yofi Grant, has stated that Ghana is scheduled to undertake external debt restructuring, which is likely to deliver funding of roughly $2.5 billion in the coming days.
He made the remark as the GIPC indicated that discussions with major partners would be completed by the end of the week.
Mr. Grant stressed that the existing fiscal shortfalls would be filled through external funding measures, such as a $3 billion deal with the International Monetary Fund (IMF) and the debt restructure outlined earlier.
“With the current fiscal gaps, we anticipate external financing for the budget through the anticipated $3 billion agreement with the IMF. Additionally, we are working on some external debt restructuring to provide financing of approximately $2.5 billion.”
“We anticipate concluding negotiations with our other key partners tomorrow to further enhance our financial position,” he added.
The GIPC boss, who spoke at a recent Economic Counselors Dialogue about Africa’s falling Foreign Direct Investment (FDI) picture, highlighted the need for strategic adjustments toward green investments.
The CEO stated that Ghana must take the opportunity to tap into new markets, citing the World Investment Report, which revealed Africa’s fall in FDI.
“Consequently, redirecting focus towards sustainable and environmentally friendly initiatives is crucial for Ghana’s economic growth and international appeal,” he posited.
He also noted Ghana’s inherent assets, such as continuing reforestation efforts that demonstrate the country’s commitment to protecting its natural resources.
Mr. Grant also emphasized Ghana’s “forward-thinking” policy of converting all governmental buildings to solar energy in the near future.
He urged domestic and international stakeholders to acknowledge Ghana’s green investment sector’s enormous potential.