Perhaps too much attention is being paid to the recent. Annual time series data from 1990 to 2007 was used. This paper highlights ghanas poverty reduction strategy. Ghanas aid policy document 201417 notes that, as a percentage of gdp, aid declined significantly from approximately 25. This site is like a library, use search box in the widget to get ebook that you want. Adobe acrobat reader dc software is the free global standard for reliably viewing, printing, and commenting on pdf documents. Enhanced initiative for heavily indebted poor countries. The evidence suggests that debt relief could have a positive effect on poverty reduction in ghana, although the effect will be small. For the 18 heavily indebted poor countries hipcs that reached the enhanced hipc decision point by enddecember 2000, the basic quantitative findings are that hipc debt relief has boosted.
Ghana s aid policy document 201417 notes that, as a percentage of gdp, aid declined significantly from approximately 25. The extent of the debt burden is jeopardizing ghana s effort at poverty reduction. Download statistics measured since january 1st, 2014. The hipc initiative and poverty reduction in ghana unuwider. Ghana poverty reduction strategy paper prsp annual progress report, and enhanced heavily indebted poor countries hipc debt initiative. As early as there is a noticeable 1953, representatives of the northern. In february 2002, the executive boards of the international monetary fund imf and the international development associations ida agreed to support a comprehensive debt reduction package for ghana under the enhanced heavily indebted poor countries hipc initiative at the decision point. Kufuor took in march to request debt relief from ghanas creditors has already borne fruit in the past year. This enabled the country to increase its expenditure on education and other. The preliminary results show that ghana could qualify for debt relief under both the npv of. The effects of heavily indebted poor countries initiative. The hipc initiative and poverty reduction in ghana an core. The extent of the debt burden is jeopardizing ghanas effort at poverty reduction.
However, the first mediumterm plan from it, known as ghana. Chad, in april 2015, is the latest country to reach the completion point. The sat3wasc cable ghana case study 5 inflation declined to 10. Charles godfred ackah, ellen borteidorku aryeetey and ernest aryeetey. Minister of finance and economic planning on the authority of his excellency john agyekum kufuor president of the republic of ghana 1. The country is heavily reliant on international financial and technical assistance and in 2002 opted for debt relief under the. This growth has been particularly robust in the past decade since 2005, despite setbacks from food and financial crises, political tensions, as well as natural disasters in some african countries african development bank afdb, 2014. Country case ghana global partnership for effective. Together with the authorities, the missions conducted the debt sustainability analysis dsa. Download fulltext pdf ghana china bilateral relations, figures of controversy conference paper pdf available december 2015 with 3,557 reads. General overview of hipc debt relief initiative 67 4. Only three new countries have been added to the list. Hipc cannot be an end, well need to work more to attain the desired goals. Note that maps may not appear on the webpage in their full size and resolution.
Through an analysis of ghana s hipc fund which was established as part of the prsp process, this article shows how aidfinanced efforts to reduce regional inequality in ghana have failed. To date, debt reduction packages under the hipc initiative have been approved for 36 countries. And now, its connected to the adobe document cloud. Ghana, macroeconomic policy, oil, fiscal consolidation acknowledgements the authors are grateful to the governance partnership facility and its donors the u. Contrary to reports in the media, ghana has not been added to a list of countries eligible for debt relief assistance under the heavily indebted poor countries hipc initiative.
Livelihood diversification and fishing communities in. Jeremiah atengdem, the idea that a special national programme officeruerinitiative is needed to overcome the gap between the north and south is introduction older than ghana itself. Ida and imf staff estimates hipc mdri hipc and mdri hipc mdri hipc and mdri all hipcs 14. The world bank, the international monetary fund imf and other multilateral, bilateral and commercial creditors began the heavily indebted poor country hipc initiative in 1996. Still a challenge development agenda send west africa. Impact of hipc on poverty reduction in ghana 20002008. Poor countries hipc initiative decision point document, february 2002. The administration of debt relief by the international financial. Ghana political 2007 741k ghana political 1996 321k and pdf format 314k ghana political 1995 417k and. Ghana poverty reduction strategy paper prsp annual progress.
Impact of hipc on poverty reduction in ghana 2000 2008 92 pages posted. The economies of subsaharan africa ssa have shown strong growth since the mid1990s. Jan 11, 2019 following the implementation of hipc mdri, the average public debt as a percent of gdp for all subsaharan countries receiving relief fell from 110 percent in 2001 to 35 percent in 2012, and the. Ghana enhanced heavily indebted poor countries hipc debt. This paper presents a decision point assessment of ghanas. The impact of the heavily indebted poor countries initiative. In february 2002, the executive boards of the international monetary fund imf and the international development association ida, agreed to support a comprehensive debt reduction package for ghana under the enhanced heavily indebted poor countries. General achievement and assessment of hipc initiative 71 4. Heavily indebted poor countries hipc from the world bank. Use the free adobe acrobat reader to view this pdf file. Ghanas constitution of 1992 with amendments through 1996.
Ghanas debt profile and sustainability africa portal. Ghana enhanced heavily indebted poor countries hipc debt initiative english. Ghana enhanced heavily indebted poor countries hipc debt initiative. The fall and rise of ghanas debt jubilee debt campaign. For example, targeting of assistance programs for education, access to medical services, poverty alleviation, and broadband expansion depends on the status of these services in an area. In 1996, the world bank and the international monetary fund imf launched the debt initiative for heavily indebted poor countries hipc initiative, which created a framework for all creditors, including multilateral creditors, to provide debt relief to the worlds poorest and most heavily indebted countries, and thereby reduce the constraint on economic growth and poverty reduction. Download debt ebook for free in pdf and epub format.
Eligibility for assistance programs will depend on whether an individual is classified as living in a rural area. Pdf downloads softcopies of bece past questions 19902020. Hipc debt relief initiative, through the mechanism of debt service relief, in accordance with the terms described in the preceding paragraphs. Kufuor took in march to request debt relief from ghana s creditors has already borne fruit in the past year. Hipc debt relief myths and reality fondad, february 2004. The executive boards of ida and the imf discussed the preliminary hipc document for ghana idar20010111 of 61201, and imfebs0189 of 61401 on july 3, 2001 and june 27, 2001, respectively. Is the hipc initiative of benefit to the people of northern. Kwabena duffuor minister of finance and economic planning on the authority of h. The hipc initiative and poverty reduction in ghana. Is the hipc initiative of benefit to the people of. The world bank legal papers download ebook pdf, epub. Livelihood diversification and fishing communities in ghanas. The evidence suggests that debt relief could have a positive effect on poverty reduction in ghana, although.
There have been mixed reactions to the governments decision to opt for the hipc initiative, which seeks to provide debt relief to cashstrapped countries based on the implementation of poverty alleviation strategies prescribed by the imf and the world bank. The results found ghana s debt to be unsustainable during 2000200203 and sustainable during 20042012. Download free africa maps in high resolution formats. To save the maps to your computer, rightclick on the link. Republic of ghana budget statement and economic policy of the government of ghana for the 2005 financial year presented to parliament on thursday, 24th february, 2005 by kwadwo baahwiredu, m. Impact of hipc on poverty reduction in ghana 20002008 by. Heavily indebted poor countries hipc initiative and. It guided the governments development policies until 2001, when it was replaced with the ghana poverty reduction strategy under the heavily indebted poor countries hipc initiative. The results are generally consistent with those obtained for ghana by the imf and world bank under the hipc and new debt sustainability framework dsf.
This paper analyzes the heavily indebted poor countries initiative hipc with a focus on the experiences of countries such as uganda and bolivia that have had the most experience with the program. Public expenditure management country assessment and action plan aap ghana prepared by the staff of the world bank and the imf in collaboration with the ghanaian authorities1 may 28, 2004 1 the hipc aap mission took place between february 1625, 2004 and comprised marcelo andrade head, world. Debt relief under the heavily indebted poor countries. Introduction a joint bankfund mission 1 visited accra from august 6 to 15, 2001 to prepare a draft hipc assessment and action plan aap. Ghana enhanced heavily indebted poor countries hipc. Ghana enhanced heavily indebted poor countries hipc debt initiative english abstract. Debt relief under the heavily indebted poor countries hipc initiative the joint imfworld bank comprehensive approach to debt reduction is designed to ensure that no poor country faces a debt burden it cannot manage. The hipc initiative and poverty reduction in ghana an. Ghana not eligible for hipc sources ghana business news. Click download or read online button to get the world bank legal papers book now. The hipc initiative and ghana s external debts this paper investigates the effect of hipc debt relief on external debt repayments and its impact on ghana s poverty reduction strategy. The study has revealed that debt relief has really impacted positively on ghana s external debt repayments and has therefore reduced the debtservicing.
The findings are based on two joint missions of ida and imf in march and may 2001. The heavily indebted poor countries hipc are a group of 37 developing countries with high levels of poverty and debt overhang which are eligible for special assistance from the international monetary fund imf and the world bank. These terms will be implemented by a debt relief agreement between the bank group and the government of ghana. Impact of enhanced hipc initiative assistance on debt and debt.
Pdf the effect of fiscal policy and monetary policy on. Heavily indebted poor countries hipc initiative and multilateral debt relief initiative mdri statistical update executive summary the hipc initiative and mdri are nearly complete, with 36 countries having already reached the completion point under the hipc initiative. Second, the paper assesses the potential of debt relief in alleviating poverty and improving living standards in ghana section 2 discusses the nature of the debt problem by examining the sustainability or otherwise of the debt burden and its implication for poverty reduction policies in ghana. The case for open access communications infrastructure. John evans atta mills president of the republic of ghana republic of ghana. Download free ghana mapsfree map downloads free world country map downloads. Pdf the hipc initiative and poverty reduction in ghana. Debt relief before and after hipc 48 poverty reduction 50 hipc and debt sustainability 52 challenges for the future 56 from. Multilateral debt relief for heavily indebted poor countries. The structured program was designed to ensure that the poorest countries in the world are not overwhelmed by unmanageable or unsustainable debt burdens. Government of ghana for the 2009 financial year presented to parliament on thursday, 5th march, 2009 by dr.
1287 189 790 479 1201 397 258 96 944 1086 368 398 794 1620 952 1595 676 1602 691 179 1423 1343 926 1179 72 409 1023 1074 1134 976 1248 691 371 1433 1444