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Ghana Expects Beijing Bailout Soon


FILE: Ghana's finance minister, Ken Ofori-Atta, at right, speaks with VOA's Peter Clottey. Taken April 4, 2017.

BEIJING/ACCRA - Ghana's finance ministry said on Friday after meetings it held in China that it expected to secure financing assurances "very soon."

"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 and all fronts," Ghana's finance minister Ken Ofori-Atta said on Twitter.

China is Ghana's biggest bilateral creditor with about $1.9 billion of debt, according to Ghana's finance ministry.

China's vice commerce minister met with Ghana's finance minister in Beijing on Thursday to discuss strengthening bilateral economic and trade cooperation, China's commerce ministry said on Friday.

Ghana secured a staff-level agreement through the International Monetary Fund in December for a $3 billion loan but must first ask bilateral lenders to provide financing assurances on existing debts before the IMF board can sign off on the program.

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