Akufo-Addo extols Chinese government’s role in Ghana’s $3 billion bailout

President Nana Addo Dankwa Akufo-Addo has praised the Chinese government for its role in assisting Ghana to secure a three billion dollar IMF bailout.

While expressing Ghana's gratitude to China's outgoing Ambassador, Lu Kun, the President commended him for his contributions to enhancing diplomatic, trade, and investment relations between the two countries.

In a farewell interaction, President Akufo-Addo mentioned Mr. Kun's role as the Co-Chair of Official Creditors under the G20 Common Framework and his involvement in increasing trade volumes to more than 11 billion dollars, as well as financing the construction of the Jamestown Fishing Harbour.

Since beginning his duty tour in Ghana in 2021, bilateral relations between Ghana and China have improved significantly over the three years.

Trade between Ghana and China has reached a record 11 billion dollars, with more development projects being undertaken by Chinese investors.

Lu Kun has been recognized as a pivotal figure in Ghana's negotiations with Official Creditors under the G20 Common Framework, on a comprehensive Debt Treatment beyond the Debt Service Suspension Initiative, a requirement under Ghana's IMF program.

Additionally, while on duty, Beijing provided financing for the construction of the Jamestown Fishing Harbour, the Tamale Interchange, and the second phase of the University of Health and Allied Sciences.

President Akufo-Addo expressed Ghana's deepest appreciation to Mr. Kun for his work during his tenure. President Akufo-Addo stated that Ghana will remember and be forever grateful to Mr. Kun for his unwavering support to Ghana during his period of service in the country.

The outgoing Chinese Ambassador, Lu Kun, expressed his gratitude for the support he received during his stay in Ghana. He reflected on some of the projects undertaken during his tenure.

Mr. Lu Kun is returning to China following his retirement.