Honour international payment plans to restore trust – Dr Ishmael Hlovor advises gov’t

An international relations analyst, Dr Ishmael Hlovor, has called on the Ghanaian government to honour its payment agreements with international creditors to rebuild trust and maintain access to global financial support.

His comments come after the U.S. government, represented by Senator James Risch recently urged U.S. Treasury Secretary Janet Yellen to leverage America’s influence as the IMF’s largest shareholder to ensure Ghana honours its obligations to American companies.

He suggested withholding U.S. support for future IMF assistance until Ghana repays its debts.

In an interview on Joy FM’s Middaynews on Thursday, January, 16, Dr Hlovor noted that these actions are a clear signal from the U.S. to Ghana about the importance of honouring international obligations.

“What the Senator is trying to do is use U.S. influence within the IMF to put pressure on Ghana to address its financial commitments. They are emphasising that without honouring these obligations, Ghana risks losing future international financing,” Dr Hlovor explained.

Dr Hlovor emphasised the need for Ghana to engage with its creditors and develop realistic payment plans. He warned that repeated defaults on agreed schedules erode trust and damage Ghana’s credibility in the global financial community.

“If you agree on a payment plan with a creditor and keep defaulting, they lose trust in you. This jeopardizes your economic relationships and discourages foreign investors from considering Ghana as a viable destination,” he stated.

He, therefore, urged the government to implement a sustainable payment strategy, honour commitments on time, and work to re-establish trust among international stakeholders.

The analyst also noted that if Ghana does not take corrective measures, the U.S., as a significant stakeholder, could influence the IMF to withhold further financial programmes, thereby isolating Ghana from critical international support.