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Tag: Climate Change Conference

Swap our debts for climate interventions – Akufo-Addo to rich countries

Swap our debts for climate interventions – Akufo-Addo to rich countries

Ghana News, Headlines Today, World News
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 a 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.  The IMF team has already worked with the finance ministry to complete a debt sustainability analysis. The IMF executive board is expected to base its fin...
Akufo-Addo to COP27: Climate change a global emergency, redeem US$100 billion pledge

Akufo-Addo to COP27: Climate change a global emergency, redeem US$100 billion pledge

Ghana News, Headlines Today, World News
President Akufo-Addo bemoaned the fact that climate adaptation costs are currently outstripping current international public finance flows. President Nana Addo Dankwa Akufo-Addo has described climate change as a “global emergency”, and has urged the developed world to redeem a 13-year-old pledge to make available US$100 billion annually to help developing countries fight the scourge of climate change. Delivering Ghana’s national statement at the ongoing United Nations Climate Change Conference, more commonly referred to as Conference of the Parties of the UNFCCC, or COP27, on Tuesday (8 November 2022), President Akufo-Addo bemoaned the fact that climate adaptation costs are currently outstripping current international public finance flows. According to the Presiden...

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