Ghana Seeks to Embed Slavery Reparations in IMF and World Bank Financing

Ghana has prepared a draft paper and a five-year action plan to incorporate reparations for slavery and colonialism into the financing frameworks of the International Monetary Fund (IMF) and the World Bank Group. The documents were disclosed by Dr Ekow Spio-Garbrah, Ghana’s Special Envoy for Reparations, on the sidelines of the 81st IMF/World Bank annual meetings in Bangkok. The proposal aims to move the reparations debate from symbolic apologies toward concrete financial arrangements. The draft has been circulated within Ghana’s presidency, the ministries of finance and foreign affairs, and the Bank of Ghana, but it has not yet been formally submitted to the IMF or the World Bank.

Ghana drafts paper to integrate reparations into IMF, World Bank Ghana Pushes IMF, WB to Integrate Slavery Reparations Into Development Financing Ghana develops five-year plan to advance reparations agenda

The initiative aligns with a broader push by African and Caribbean states to translate reparations demands into policy. In June, the African Union (AU) and the Caribbean Community’s reparations commission endorsed a 19-point framework in Accra that calls for formal apologies, financial compensation, debt relief, and reforms to international financial institutions, including the creation of a Global Reparations Fund. The AU has declared 2026-2035 the “Decade of Reparations,” coordinating legal, diplomatic, and financial efforts across its 55 member states.

Ghana Pushes IMF, WB to Integrate Slavery Reparations Into Development Financing Ghana drafts paper to integrate reparations into IMF, World Bank Ghana develops five-year plan to advance reparations agenda

At the United Nations, the General Assembly adopted Resolution 80/250 in March, declaring the transatlantic slave trade the gravest crime against humanity. The resolution received 123 votes in favour, three against (the United States, Israel, and Argentina), and 52 abstentions, including Britain and several European nations. While not legally binding, it provides diplomatic momentum for initiatives such as Ghana’s.

Ghana Pushes IMF, WB to Integrate Slavery Reparations Into Development Financing

• Dr Ekow Spio-Garbrah – Special Envoy for Reparations, former IMF and World Bank staff, leading Ghana’s proposal.

Ghana drafts paper to integrate reparations into IMF, World Bank

• President John Dramani Mahama – Ghanaian president and upcoming AU Champion on Reparations.

Ghana develops five-year plan to advance reparations agenda

• African Union – Organizer of the Decade of Reparations and proponent of a Global Reparations Fund.

Ghana drafts paper to integrate reparations into IMF, World Bank

• International Monetary Fund – Provides macro-economic stability financing; currently has no reparations instrument.

Ghana Pushes IMF, WB to Integrate Slavery Reparations Into Development Financing

• World Bank Group – Delivers long-term development financing; also lacks a reparations framework.

Ghana Pushes IMF, WB to Integrate Slavery Reparations Into Development Financing

• UN General Assembly vote on Resolution 80/250: 123 for, 3 against, 52 abstentions.

Ghana Pushes IMF, WB to Integrate Slavery Reparations Into Development Financing

• Germany’s agreement to pay €1.1 billion to Namibia for colonial-era atrocities.

Ghana Pushes IMF, WB to Integrate Slavery Reparations Into Development Financing

• The Netherlands’ allocation of €220 million to Caribbean initiatives addressing its slavery legacy.

Ghana Pushes IMF, WB to Integrate Slavery Reparations Into Development Financing

• The AU’s Decade of Reparations encompasses 55 member states.

Ghana develops five-year plan to advance reparations agenda

Spio-Garbrah described reparations finance as a “new instrument” that the IMF and World Bank currently do not address, noting the draft paper is intended for a global audience until formally introduced. He highlighted Ghana’s advocacy for legislation to establish a National Reparations Council across AU member states to coordinate continental claims and engage former colonial powers.

Ghana drafts paper to integrate reparations into IMF, World Bank Ghana develops five-year plan to advance reparations agenda Ghana Pushes IMF, WB to Integrate Slavery Reparations Into Development Financing

Ghana has not disclosed the specific financing mechanism it envisions—grants, concessional loans, debt relief, or a dedicated reparations fund—leaving the structure of any future program unclear. Moreover, the IMF and World Bank presently lack formal reparations instruments, meaning integration would require extensive negotiations and possible amendments to existing statutes. The UN resolution, while diplomatically significant, does not create an enforceable payment mechanism, highlighting a gap between political support and actionable funding.

Ghana Pushes IMF, WB to Integrate Slavery Reparations Into Development Financing

The draft paper and action plan have been submitted to Ghana’s presidency and relevant ministries for appraisal. Pending approval, Ghana intends to present the proposal to the IMF and World Bank for discussion, while advancing its coordination role within the AU’s Decade of Reparations and continuing diplomatic engagement with the United Nations and bilateral partners.

Ghana develops five-year plan to advance reparations agenda