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It has been reported that the Chinese authorities have expressed their commitment to support Ghana to resolve its current short-term liquidity challenges, which they describe as short-term.
That is to say that the Chinese believe the current challenges shall pass for the Ghanaians to enjoy some relief.
This is reassuring, particularly viewed against the background that the Chinese would not stop at helping to resolve just the current challenges but will also continue to support Ghana’s medium and long-term development aspirations.
We have no cause to doubt the Chinese in this matter because since 1960 when the People’s Republic of China (PRC) established official diplomatic ties with Ghana, the two nations have had fruitful relationship.
In that relationship, Ghana has, for instance, given diplomatic support to China in certain matters, whereas China has offered Ghana economic assistance on a number of occasions.
We can recall that in the 1960s, Ghana’s first President, Osagyefo Dr. Kwame Nkrumah, campaigned for the reinstatement of the PRC in the United Nations and supported China in the border conflict with India in 1962.
Upon the overthrow of Nkrumah in 1966, China developed a frosty relationship with Ghana yet years later on October 25, 1971, Ghana voted in support of the United Nations General Assembly Resolution 2758, which restored the People’s Republic of China to the Chinese seat at the UN and expelled the Republic of China (Taiwan).
To show appreciation for Nkrumah’s effort, China gave Ghana grants and continuous technical assistance for its development projects.
When China resumed strong ties with Ghana, especially in the 1990s, it renewed its support to the country.
It is on record, for instance, that in the early 1990s China built Ghana’s National Theatre as a reward for the country’s diplomatic support during the Tiananmen Square protests in 1989 and in 2001, it offered a US$2.4-million grant to renovate the theatre.
Since the 1990s, China has not reneged on any of its promises to assist Ghana.
Based on its sincere and honest dealings with Ghana, we believe its current promise of supporting the country to resolve its current liquidity challenges would also be fulfilled.
It must be noted that the Chinese assurance was given just days ago at a meeting in China involving a Ghanaian representation led by the Minister of Finance, Mr. Ken Ofori-Atta.
Currently, the government is working to restructure the country’s external debt,$1.7 billion of which is owed to China.
The truth is that China is now a huge force in the development of African countries, including Ghana.
We hope as China does its bit as a donor and development partner to rescue Ghana from drowning economically, others like the Paris Club would also come on board to help save the country from any perceived economic turmoil.
It is every Ghanaian’s hope that the country will sooner than envisaged receive the needed external assistance to sustain its economy and give some hope to the people.
The hardship in the country now is unprecedented but we believe the efforts being made by the government can resolve them if the country’s managers reframe their income and expenditure architecture.
