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Mahama Expresses Gratitude to South Korea for Canceling Ghana’s Debt

Flagbearer of the National Democratic Congress (NDC), thanked the South Korea for their debt forgiveness.

Former President John Dramani Mahama has thanked the Republic of South Korea for cancelling Ghana’s debt.

He expressed his gratitude during a courtesy visit by South Korea’s ambassador to Ghana, Park Kyongsig to his office on June 27, 2024. The former president indicated that the benevolence act by South Korea will help strengthen Ghana’s debt restructuring efforts amid the current economic challenges.

“It was an honour to meet with Ambassador Park Kyongsig of South Korea to discuss the invaluable support and investments South Korea has committed to Ghana. I expressed my profound gratitude for restructuring Ghana’s debt, which will significantly bolster our debt restructuring efforts during these challenging economic times,” he wrote.

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The former president shared insights of his meeting with the ambassador on his Facebook page. As part of it, he also outlined some of the key initiatives and priorities, including the $2 billion investment framework by the NDC he intends to undertake if elected President in the upcoming general elections on December 7, 2024.

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“Our discussion also delved into the $2 billion framework arrangement, a substantial investment that will significantly impact crucial sectors such as healthcare, education, environment, and agriculture,” he said.

Earlier, on June 22, Ghana’s Finance Minister, Mohammed Amin Adam had announced during a town hall meeting with the Ghanaian diaspora in the UK that Eurobond holders, including South Korea, granted Ghana debt forgiveness totalling $4.7bn.

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