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Finance Minister Ken Ofori-Atta leaves for China to secure deal over Ghana's Debt

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Ken Ofori-Atta, Minister of Finance

11 month(s) ago
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Finance Minister Ken Ofori-Atta has traveled to China to secure a deal for restructuring of Ghana's bilateral debts.

The Minister left Ghana on Sunday, March 19, to Beijing.

China is a key player to Ghana's external debtors, holding about $1.7 billion of Ghana’s $5.5 billion bilateral debt.

According to the Ghana Business News portal, the specialised nature of their lending windows means that Ghana cannot add them to the model used to negotiate with the G20 and the Paris Club members.

Talks with China were postponed to March 2023 following an earlier date in February.

Ofori-Atta has met with representatives of the Chinese government and its quasi-agencies in Accra since the postponement was announced.

Despite securing an IMF Staff-Level Agreement last year, government is undertaking external restructuring of its debts in order to get a Board Level approval later this month.

 

source: Theannouncergh.com