The United States of America has announced the deployment of a full-time resident advisor from the Department of Treasury’s Office of Technical Assistance (OTA) to assist the Ministry of Finance in developing and implementing medium-to-long-term reforms required to improve debt sustainability and support a competitive, dynamic government debt market.
Vice President Kamala Harris made the announcement during her state visit to Ghana.
The move is expected to complement and build on the Government of Ghana’s debt restructuring efforts.
It also forms part of OTA’s ongoing engagement to strengthen public financial management and financial sector oversight across sub-Saharan Africa.
OTA is expected to execute 25 projects in 15 African countries in 2023.
The projects includes eight new projects in Cameroon, Ghana, Kenya, Madagascar, Namibia, Tanzania, The Gambia, and Zambia in revenue policy and administration; budget and financial accountability; government debt issuance and infrastructure financing; banking and financial services; and economic crimes.
To further support Ghana’s debt management, USAID is funding fellowships for a team of ten specialists to work within the Ministry of Finance, providing surge support for a two-year period. The Fellows are all young, qualified Ghanaians and recent university graduates.
She further announced that the US Administration intends to invest more than $100 million to support conflict prevention and stabilization efforts in Coastal West Africa, including at least $86 million in funding over three years specifically dedicated to the implementation of the new 10-year plan.
The plan is intended to address regional threats of violent extremism and instability in Coastal West Africa and enable the U.S. Government to work with Congress to marshal additional assistance to support efforts in the region over the coming years.
By: Rainbowradioonline.com/Ghana
