Ghana’s deliberations with Chinese progressive, fruitful – Ofori-Atta

The finance minister, Ken Ofori-Atta, has stated that deliberations with the Chinese delegation from EXIM Bank China have so far been fruitful.

According to a statement on its website, the discussions have been cordial and fruitful.

Ghana is seeking a restructuring of Ghana’s $1.9 billion indebtedness to China. In that light, a Chinese delegation ended a 3-day mission to engage the Government of Ghana.

The International Institute of Finance has stated that Ghana owes about $13 billion in Eurobonds and $4 billion to bilateral loans as of September 2022, of which $1.7 billion is owed to China alone.

The Chinese delegation met Vice-President Dr. Mahamudu Bawumia, the Minister of Finance, and technical teams from the Ministry of Finance.

The Chinese Ambassador to Ghana, Lu Kun, also hosted the delegation at a luncheon yesterday.

Present at the meeting were: Members of the Chinese delegation, the Minister of Finance; Minister of Foreign Affairs, Shirley Ayorkor Botchwey; Ghana’s Ambassador to China, Dr. Winfred Nii Okai Hammond; and officials of the Ministry of Finance.

Speaking at the luncheon Ofori-Atta thanked the Chinese government for its long-standing cooperation and support for Ghana.

About three weeks ago, President Akufo-Addo appealed to Germany to convince China to participate in the Credits Committee under the Paris Club Common Framework to deal with Ghana’s external debt restructuring efforts.

SSD/FNOQ