Political Skilzer: The Finance Minister, Ken Ofori Atta will lead a delegation from Ghana this week to China to hold debt discussions on debt restructuring with officials there about loans accrued by the Mills and Mahama-led administration.
Ghana signed a $1 billion lending agreement with China Development Bank Corp in 2014 as part of the biggest loan in the country’s history that then Vice President John Dramani Mahama said would provide hundreds of thousands of jobs and develop natural gas.
The Minister of Finance, Ken Ofori-Atta, urged China to grant Ghana an exemplary debt treatment solution and he will in China to engage the Government of China, following a request for the restructuring of the country’s US$1.9 billion debt owed to China.
The delegation will update the Chinese Government on Ghana’s ongoing debt restructuring process, with negotiations towards a sovereign debt treatment scheduled to continue from where they started with the Chinese Government Delegation that visited Accra in early March.
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