/ 14 March 2001

GHANA ?FORCED INTO POOR STATUS?

GHANA’S new government said this week that empty coffers had forced Accra to accept debt-ridden status – a move which has sparked widespread criticism from opposition parties and trade unions. Finance Minister Yaw Osafo-Marfo, who last week declared that Accra had decided to join the HIPC (Heavily Indebted Poor Countries) initiative, said Ghana had no options before it. The scheme allows cash-strapped economies limited loan waivers, which in turn are ploughed back into poverty alleviation programmes. – AFP