International Monetary Fund

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

The News and Events published every week include conferences, major developments in the field of International Economic Law in Africa at the national, sub-regional and regional levels as well as relevant case law.

The ailing financial sector in Ghana necessitated an immediate pragmatic response to realign and reposition the financial sector back to its glory days. Depositors’ monies are mostly squandered or bolted with by directors and managers of financial institutions in Ghana. The recent clean-up in the financial sector has awakened uproars from some Ghanaians, notable amongst them are the customers of the affected financial institutions. While some vowed to boycott the 2020 elections, others instituted a civil action in court on the grounds of negligence against the central bank. It will be intriguing to know the legal principles for adjudicating this matter in the high court, whether private law principles under tort law (on the basis of which the customers have sued BoG), or public law principles under administrative law (which seems more appropriate for a public body). With the extent of insolvency, licensing irregularities and insufficient minimum capital requirements among financial institutions, the greatest fatherly role played by BoG was not to spare the rod to spoil the child in its quest to salvage the financial sector.

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

The loan conditionalities are spelled out in the Memorandum of Economic and Financial Policies (MEFP). Despite the talk about “ownership” of these memoranda and “active contribution of authorities” of the loan beneficiary, the drafting is done mostly by the IMF staff. It was reported in the media, the push towards a “structural and governance reform” of SOEs, too, came from the IMF.

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.