US To Send Resident Adviser To Ghana To Help Finance Ministry With Reforms - White House
Faizan Hashmi Published March 27, 2023 | 05:00 PM
MOSCOW (UrduPoint News / Sputnik - 27th March, 2023) The United States will send a resident adviser to Ghana to help the country's Finance Ministry develop and implement medium- and long-term reforms as part of Vice President Kamala Harris's initiatives to strengthen the US partnership with Accra, the White House said on Monday.
" The U.S. Department of the Treasury's Office of Technical Assistance (OTA) will deploy a full-time resident advisor in 2023, to Accra to assist the Ministry of Finance in developing and executing medium- to long term reforms needed to improve debt sustainability and support a competitive, dynamic government debt market. The project will complement and build on the Government of Ghana's debt restructuring efforts," the statement read.
In addition, Washington intends to "provide $139 million in bilateral assistance for Ghana in Fiscal Year 2024," as well as "invest more than $100 million to support conflict prevention and stabilization efforts in Coastal West Africa," the statement read. Of that amount, at least $86 million will be allocated over three years for a new 10-year plan to counter "regional threats of violent extremism and instability," according to the statement.
In December 2022, Ghana's finance ministry temporarily suspended the payment of part of its external debt. Annual inflation in Ghana, which is experiencing a severe economic and financial crisis, accelerated to a new 21-year high of 50.3% in November 2022.
Related Topics
Recent Stories
Mired in crisis, Boeing reports another loss
Session Awarding Ceremony 2024 held at Cadet College Muzaffarabad
Austrian ski great Hirscher to make comeback under Dutch flag
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
FM Dar conveys deepest sympathy on torrential rains devastation in UAE
Spain PM Sanchez says weighing resignation after wife's graft probe
Tennis: ATP/WTA Madrid Open results - 1st update
Long-lost Klimt portrait auctioned off for 30 mn euros
Osaka seals first win on clay since 2022 in Madrid
Earthquake jolts Karachi
Sindh minister orders operation after attack on police in Ghotki
TikTok to fight US ban law in courts
More Stories From World
-
Paris dream of swimming in the Seine finally within reach
12 minutes ago -
Portugal's Carnation Revolution, 50 years on
13 minutes ago -
Tough times for Argentine factories as consumers penny-pinch
23 minutes ago -
Use of alcohol and e-cigarettes among youth 'alarming': WHO
23 minutes ago -
Football: Italian Cup result
33 minutes ago -
Bird flu in humans? Experts see little risk
33 minutes ago
-
Car giants vie for EV crown at Beijing's Auto China show
43 minutes ago -
Meta profits soar but costs of AI cause worry
43 minutes ago -
Tennis: ATP/WTA Madrid Open results - collated
1 hour ago -
Football: French Ligue 1 results - collated
1 hour ago -
Meta sees profits soar in first quarter
1 hour ago -
Battling mass tourism, Venice introduces day tickets
1 hour ago