• About us
  • Donate
  • WADR
  • Contact us
  • Live Stream
Thursday, June 5, 2025
Loud Silence News
Advertisement
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
Loud Silence News
No Result
View All Result
Home Ghana News Ghana Business

Ghana Obtains $500m Debt Repayment Freeze From World Bank | General News

Loud Silence Staff by Loud Silence Staff
April 20, 2020
in Ghana Business
0
COVID-19 Testing: 100 TB Gene Experts Labs Being Recalibrated | Health
4
SHARES
22
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

[ad_1]

President Nana Addo Dankwa Akufo-Addo has announced that Ghana has obtained a $500-million dollar freeze in debt and interest repayment for the rest of this year from the World Bank.

The move is part of a broader pan-african effort for debt relief due to the negative impact of the novel coronavirus pandemic, the President said.

You might also like

Cedi loses value for about 25.8% against the Dollar – BoG report

High taxes crippling our businesses – Ghana Hotels Association cries

No More Talks, when fuel prices increase we will also increase fares – Commercial drivers

In his seventh update to the nation on COVID-19, the President said last Friday, African Finance Ministers, led by Mr Ken Ofori-Atta, and his South African counterpart, achieved a nine-month debt standstill from the World Bank for all qualifying members of the International Development Association (IDA), starting from May 1, 2020.

The total amount for the beneficiaries on the continent is $44 billion.

“In the case of Ghana, this amounts to a freeze in principal and interest payments for the year, amounting to $500 million,” he explained.

“This will create greater fiscal space to help make the Ghanaian economy much more resilient.”

President Akufo-Addo lauded Ken Ofori-Atta, who is leading the continent’s debt relief efforts for his hard work and outstanding leadership.

He urged him to leave no stone unturned to achieve an even greater and comprehensive debt relief programme for Africa.

The Government welcomed the three billion Ghana cedis credit and stimulus package from the commercial banks, under the auspices of the Ghana Association of Bankers, with support from the Bank of Ghana, to revitalise Ghanaian industries.

The stimulus package is to offer financial relief to especially the pharmaceutical companies.

Additionally, the President said, the one billion United States-dollar- Rapid Credit Facility, secured from the International Monetary Fund, without any pre-condition, and approved by Parliament, would be used to help close the financial gap created by the COVID-19 pandemic.

So far, the Government has allocated a GHc1.2 billion, under the Coronavirus Alleviation Programme, to support households and businesses.
Out of that amount, GHc280 million would be used to provide food for the vulnerable and free water for all Ghanaians in April, May and June.

A total of GHc323 million is being used to motivate frontline health workers leading the fight against COVID-19, while a GHc600 million assistance package is for micro, small and medium-scale businesses.

Additionally, the Government is absorbing the full electricity bills of one million active lifeline customers and granting 50 per cent subsidy to the other categories of power consumers at a total cost of one billion Ghana cedis.

The President lifted the ban on the three-week partial lockdown of COVID-19 hotspots areas, including Accra, Tema, Kasoa,Greater Kumasi and its contagious districts.

He, however, maintained the other restrictions, including the ban on public gatherings, public funerals, indefinite closure of schools, closure of the border and urged the strict observance of social distancing.

Ghana’s case count for COVID-19 now stands at 1,042, with nine deaths and 99 persons fully recovered, after 68,591 sample test results were declared.



[ad_2]

This content first appear on peace fm online

Tags: AnnouncementsArticlesCrimeEDITORIALEducationFeaturesForeign NewsGeneral NewshealthMeet The PressPEACE FM NEWSPress ReleaseReligionRumour MillScience & EnvironmentSocialSpeechestechnologyTourismtravel
Previous Post

Asked About Task Force Snub, Trump Says He’s Still Got A Grudge Against Mitt Romney

Next Post

Asia Pacific stocks mixed as China cuts loan prime rates; US crude plummets

Loud Silence Staff

Loud Silence Staff

Related Posts

Cedi loses value for about 25.8% against the Dollar – BoG report
Ghana Business

Cedi loses value for about 25.8% against the Dollar – BoG report

by News Reporter
November 27, 2023
High taxes crippling our businesses – Ghana Hotels Association cries
Ghana Business

High taxes crippling our businesses – Ghana Hotels Association cries

by News Reporter
October 23, 2023
No More Talks, when fuel prices increase we will also increase fares – Commercial drivers
Ghana Business

No More Talks, when fuel prices increase we will also increase fares – Commercial drivers

by News Reporter
November 3, 2022
4More To Do More: Prices of coffins and caskets in Kumasi to increase from next week
Ghana Business

4More To Do More: Prices of coffins and caskets in Kumasi to increase from next week

by News Reporter
November 3, 2022
Ghana’s 2023 Budget To Delay Because Ofori Atta Gave wrong Figures to IMF
Ghana Business

Ghana’s 2023 Budget To Delay Because Ofori Atta Gave wrong Figures to IMF

by News Reporter
November 3, 2022
Next Post
Asia Pacific stocks mixed as China cuts loan prime rates; US crude plummets

Asia Pacific stocks mixed as China cuts loan prime rates; US crude plummets

Recommended

Penguin Meets Up With Orangutan During Excursion In Empty San Diego Zoo

Penguin Meets Up With Orangutan During Excursion In Empty San Diego Zoo

May 1, 2020
CIA warned employees against Trump’s wonder drug

CIA warned employees against Trump’s wonder drug

April 14, 2020

Categories

  • African Business
  • African Education
  • African Health
  • African News
  • African Politics
  • African ShowBiz
  • Education
  • Ghana Business
  • Ghana News
  • Ghana ShowBiz
  • Ghana Sports
  • Human Interest Stories
  • News
  • Opinion
  • People
  • ShowBiz
  • Social Trends
  • US Business
  • US Education
  • US Health
  • US News
  • US Politics
  • US Showbiz
  • WADR
  • World Business
  • World News
  • World Politics
  • World Showbiz
  • World Sports

Don't miss it

President Mahama Unveils 24-Hour Economy Plan, Set to roll out in July
Ghana News

President Mahama Unveils 24-Hour Economy Plan, Set to roll out in July

May 28, 2025
Unmasking the Propaganda Machine: The Coordinated Smear Campaign Against Dr. Anne Sansa Daly
Ghana News

Ghana’s Medical and Dental Council Clarifies Stance on Dr. Anne Sansa Daly’s Certification

May 26, 2025
Nii Armah Amarteifio Apologizes to Dr. Daly
Ghana News

Nii Armah Amarteifio Apologizes to Dr. Daly

May 24, 2025
Unmasking the Propaganda Machine: The Coordinated Smear Campaign Against Dr. Anne Sansa Daly
Ghana News

Unmasking the Propaganda Machine: The Coordinated Smear Campaign Against Dr. Anne Sansa Daly

May 23, 2025
Legal Notice: Demand for Retraction of Defamatory Publication
Ghana News

Legal Notice: Demand for Retraction of Defamatory Publication

May 23, 2025
Legal Notice: Demand for Retraction of Defamatory Publication
Ghana News

Legal Notice: Demand for Retraction of Defamatory Publication

May 23, 2025

About Us

LOGO

Loud Silence Radio & TV Network and is a multi media production company focusing on Ghanaian and African news.

Contact

  • Alexandria, Virginia, USA
  • +1 212-602-9641
  • loudsilenceradio@gmail.com
Facebook Twitter Youtube Linkedin

Download App

google play store

© 2021 Loud Silence Media. All rights reserved.

  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
Menu
  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.