Ofori Atta Says There’s “Great Progress” In Restructuring Talks With China

The Minister for Finance, Ken Ofori Atta has updated Ghanaians about his interactions with China over the planned debt restructuring.

In a tweet, he said there was “great progress” in the interaction.

The Minister with some officials travelled to China over the request for restructuring of the country’s debt.

Ghana owes China $1.9 billion in debt and is seeking to restructure it for an International Monetary Fund (IMF) bailout.

Earlier, there were reports that China was not supportive of setting up a creditors’ committee where the creditors will sit down and agree on an aid package for Ghana.

This led to the invitation of some Chinese officials to Ghana for a 3-day engagement with the Government of Ghana.

The engagement ended on March 1, 2023, and required that a delegation reciprocate the visit for further engagements.

The Minister together with some Ghanaian officials left the country on March 22.

In an update, the Office of the Minister for Finance said the meeting was positive and encouraging.

“So far had very positive and encouraging meetings in China! Looking forward to securing external assurances very soon, even as we pass our outstanding domestic revenue bills back home. Great progress on all fronts”, the Office tweeted.

So far had very positive and encouraging meetings in China! Looking forward to securing external assurances very soon, even as we pass our outstanding domestic revenue bills back home. Great progress on all fronts…#ResolvingTogether #GhanaFirst

— Office of the Finance Minister-Ghana (@oofmghana) March 24, 2023

Source: opemsuo.com/Hajara Fuseini