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Visit of the German minister to Ghana: China chosen to join the debt restructuring effort

07/02/2023
Source : ORISHAS FINANCE
Categories: Sectors

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While calling on countries that have lent to the struggling West African nation to quickly form a creditors' committee to help restructure its debt, the German finance minister pointed the finger at China during a visit to Ghana on Friday, February 3, 2023.

During a press conference with his Ghanaian counterpart Ken Ofori-Atta, Christian Lindner announced that he wanted to “call on all creditors to join the efforts as soon as possible.” It “reminds China of its responsibilities as Ghana's very important bilateral creditor.” Ghana secured a staff-level deal with the IMF in December for a $3 billion loan, but approval of the money depends on restructuring its 467.4 billion cedis ($39 billion) debt. Noted that the country is struggling with its worst economic crisis.

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