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» 19.02.2010 - EU support clean energy production
» 18.02.2010 - Ghana to host second IMF’s West African Centre
» 13.01.2010 - Ghana gets €130 million from Germany
» 04.01.2010 - Ghana beefs up security at international airport
» 24.11.2009 - $6 million to boost rural agricultural finance in Ghana
» 20.11.2009 - Ghana-EU sign first voluntary agreement on legal timber exports
» 21.10.2009 - Ghana and Burkina Faso urged to develop strategies on use of Volta River
» 19.10.2009 - Cocoa livelihoods programme launched in Ghana

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Economy - Development | Politics

Ghana hails Japan's debt cancellation

afrol News, 11 February - The recent cancellation of Ghana's US$ 1 billion debt to Japan was hailed as a landmark in bilateral relations by Ghanaian President John Agyekum Kufuor. The Japanese debt cancellation was the largest contribution to the reduction of Ghana's unsustainable foreign debt burden.

According to reports by the government of Ghana, President Kufuor yesterday said the cancellation of one billion dollars debt owed to Japan by Ghana was a landmark in the relationship between the two countries.

President Kufuor added that Ghanaians would also forever remember Japan for the grant provided for the rehabilitation of the Accra-Yamoransa Road, one of Ghana's major corridors for the transportation of goods. Japan has invested more than US$ 1 million in the rehabilitation of Ghana's road network.

The Ghanaian President made these observations when Kazuko Asai, out-going Japanese Ambassador in Ghana, paid a farewell call on him at the Osu Castle in Accra.

Japan has turned into one of Ghana's major development partners. President Kufuor visited Japan in October 2003, were he was received by the Emperor and Empress. He also discussed development and cooperation issues with Japan's Prime Minister Koizumi.

The Japanese Ambassador, Ms Asai, had assumed duty in June 2002. "A lot of achievements were made during your short tenure of office but these two feats were outstanding," President Kufuor said.

President Kufuor further said Ms Asai had endeared herself to some communities in the rural areas, where Japan offered assistance for development projects. He urged Ms Asai, who is retiring into private legal practice, to continue to promote cordial relationship between both countries.

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