Accra, April 10, GNA – The Ghana International Trade and Finance Conference – GITFiC, has commenced broader stakeholder engagements on its ground breaking project theme; A Call for a Global Debt Initiative.
In a joint press conference held at the office of the world bank in Accra with collaborative support from the world bank and the European Union, where two researched papers were presented to the general public titled; i. Unravelling the Global Central Banks’ Losses (Africa and Europe) and Global Debt to GDP Post Covid-19(Sub Saharan Africa) in November 2023, all were spelt out.
A statement copied to the Ghana News Agency in Accra said the Position Paper for the call for a Global Debt Initiative was duly circulated among key global stakeholders and had attracted response from many.
“Notably among them is the African Development Bank and the United Nations”.
It said in a response dated Tuesday 30th January, 2024 with reference signed by the Chief Economist and Vice President of the Bank, excerpts read’s – “in this context, we welcome the fact that the Ghana International Trade and Finance Conference (GITFiC) has been seized by these developments and is actively working to find a durable solution in partnership with stakeholders. We commend therefore the GITFiC for producing the Position Paper’’.
“The most recent endorsement came from the Secretary General of the United Nations in a letter dated Wednesday 3rd April, 2024 signed by E. Courtenay Rattray, Chef de Cabinet, excerpts read’s – “I commend the Ghana International Trade and Finance Conference for its efforts to rally stakeholders in Ghana, throughout Africa and beyond to identify and push for the implementation of creative solutions to these challenges.
It said many of the issues raised in the position paper aligned with the analysis of the United Nations.
“Many of the recommendations you make also echo the recommendations made by the Secretary General in his call for a Sustainable Development Goals Stimulus in his policy brief on reform of the international financial architecture’’.
“On Friday 5th April, 2024, our Chief Executive held a virtual meeting with top officials of Fitch Ratings on same subject. The meeting discussed among many other things, the upcoming 8th GITFiC and the critical importance of Fitch’s participation.”
It sa per an approval from the current Finance Minister of the Republic of Ghana, the Chief Executive held close door meeting with Ghana’s head of public debt on the same subject.
After a similar meeting with the Zimbabwean Ambassador to Ghana, on the need for a collaborative effort of inclusion and rallying the participation of Zimbabwe.
“GITFiCs call for a Global Debt Initiative will be officially launched in June, 2024. To usher us into the commencement of the final leg of preparation for the 8th Ghana International Trade and Finance Conference – GITFiC-2024.”
GNA