Dr Hlovor urges government to honour international payment plans to restore trus
International relations analyst, Dr. Ishmael Hlovor, has advised the Ghanaian government to fulfil its financial obligations to international creditors to rebuild trust and sustain access to global financial support.
Dr. Hlovor’s comments follow concerns raised by U.S. Senator James Risch, who recently urged U.S. Treasury Secretary Janet Yellen to use America’s influence as the largest IMF shareholder to ensure Ghana honours its commitments to American companies. Senator Risch proposed withholding U.S. support for future IMF assistance until Ghana repays its debts.
Speaking on Joy FM’s Midday News on Thursday, January 16, Dr. Hlovor described the U.S. actions as a strong message to Ghana about the consequences of failing to meet international obligations.
“The Senator is leveraging U.S. influence within the IMF to press Ghana to address its financial commitments. Failure to do so risks cutting Ghana off from future international financing,” he said.
Dr. Hlovor stressed the importance of engaging creditors to develop realistic payment plans. He cautioned that repeated defaults erode trust, damage Ghana’s credibility, and discourage foreign investment.
“If you consistently default on agreed payment schedules, creditors lose trust. This undermines economic relationships and deters foreign investors from considering Ghana a viable destination,” he warned.
He urged the government to adopt a sustainable payment strategy, honour commitments promptly, and rebuild confidence among international stakeholders.
Dr. Hlovor also warned that continued defaults could lead to the U.S., a key IMF stakeholder, influencing the fund to withhold future financial support, further isolating Ghana from critical international aid.