- Title: UK: GHANA SEEKS EASY TERMS DEBT REPAYMENTS AT MEETING OF CREDITOR NATIONS.
- Date: 7th July 1970
- Summary: 1. CU Mensah (use silent) 0.05 2. SV Mensah with interviewer (use silent) 0.10 3. CU Mensah SOF 1.57 4. GV Marlborough House 2.02 5. CU Sign"Marlborough House" 2.05 6. SCU Mensah talks to Smedley of the Foreign Office 2.10 7. CU Pan Mensah to Smedley 2.18 8. SCU Wilmot (Min of Ext. Affairs - Ghana) talks to Mr. Barder (UK) 2.26 9. SCU Mr. Gaechter of Switzerland and H. Hara (Japan) and T. Endo (Japan) 2.32 10. CU Mr. Gaechter 2.35 11. CU Mr. Hara 2.40 12. CU Mr. J. Botchway (Back of Ghana) 2.45 13. CU Mrs. K. Moevus (France) 2.46 14. SV Botchway and Moevus 2.50 TRANSCRIPT: SEQ. 3: MENSAH: The debt burden is not something that one can over-estimate or underestimate - it's fact how much one has to pay. In the next ten years we have to pay something like 288 million new Cedis to our creditors in respect of these debts. That fact is a simple fact and there cannot be any two ways about it. What is at issue is whether or not the economy can generate the funds to repay it, and when you try to make up your mind on this matter, you have a moral choice: a choice of values. At present we think that when we have 30 million new Cedis to spend.... REPORTER: That's about 15 million pounds (sterling). MENSAH: Yes...where's the most important place to spend this money? We think it is intolerable that people cannot buy rice in Accra. We think it is not acceptable that there is a new civilian regime replacing a rather dictatorial regime that everybody disliked, and yet all that they get in exchange for this political change is economic stagnation, therefore it is a high priority to spend what money is available in producing some change in the countryside. REPORTER: What's going to happen if you can't get the debt rescheduled? MENSAH: I don't think that that is an eventuality that we are likely to encounter. The creditor countries have shown themselves willing to discuss arrangements which would fit in. Initials BB/AW/OS Script is copyright Reuters Limited. All rights reserved
- Embargoed: 21st July 1970 13:00
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- Location: LONDON, UK
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- Country: United Kingdom
- Reuters ID: LVABSX98NAPCPE84R3VHSZQRR6P6
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