Standard Chartered Bank's chief Africa economist Razia Khan said the West African country would receive $3,5-billion relief on debt it owed international financial institutions.
She said Ghana had demonstrated good economic reform and had qualified for the debt relief under highly indebted poor country initiative (HIPC), launched by the IMF and World Bank in 1996.
"... some of the HIPC savings may be used to retire domestic debt, removing a key hurdle to lower interest rates."
Khan said it was hoped that the initiative would help improve Ghana's credit rating over time. – Sapa.
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