Talks are underway with China over Ghana’s debt following a successful domestic debt exchange programme, Finance Minister Ken Ofori-Atta has revealed.
The Minister stated that negotiations with China are important because they hold the majority of the external bonds.
“The big elephant in the room is China, we will be visiting China by the end of the week to really discuss how they come into the envelope as quickly as possible. So we are looking at that support from them. China represents about a third of the $5.7 billion loan and so it is important that we engage them,” he told Accra based Citi Fm.
In the midst of a global economic recession scare this year, the International Monetary Fund (IMF) has stated that it is working on a debt cancellation programme for Ghana and other countries.
Ethiopia, Zambia, Chad, Lebanon, Surinam, and Sri Lanka are the other countries.