President Akufo-Addo has asked rich countries to allow heavily indebted poor African countries to swap their debts with climate interventions.
The President has been addressing the world at this year’s United Nations Climate Change Conference, COP27 in Egypt.
Ghana is currently facing crippling economic crisis fueled by huge debt.
The debt situation is proving to be a major stumbling block to getting an IMF deal in time.
Ghana is seeking a $3 billion bailout but the IMF has made it clear it will not lend to a country with unsustainable debt levels.
he IMF team has already worked with the finance ministry to complete a debt sustainability analysis.
The IMF executive board is expected to base its final decision on the report which may include debt restructuring.
President Akufo-Addo took advantage of the COP27 stage to raise the issue with the rich world.
“I urge those who hold African debt to commit to debt for climate swap initiatives,” the President said.
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