IMF clears the air on HIPC

The International Monetary Fund (IMF) has discounted reports that Ghana is a Highly Indebted Poor Country (HIPC) and could access relief under the HIPC initiative.

It said that Ghana had already received debt relief under the Highly Indebted Poor Countries (HIPC) initiative and could, therefore, not pursue further relief under the initiative.

In a response to a query by the Daily Graphic, the IMF said Ghana reached its decision point in February 2002 and its completion point in July 2004.

The Daily Graphic had written to the IMF for explanation following reports that Ghana had gone HIPC once again.

But the Fund said, “countries are eligible to benefit from debt relief only once under HIPC and the Multilateral Debt Relief Initiative (MDRI) framework,” the IMF explained.

Another HIPC possible?

The Daily Graphic sought to find out whether the fund would consider advising Ghana to consider a HIPC debt rel