Ghana’s finance minister Ken Ofori-Atta will meet with Chinese officials in Beijing on Wednesday to discuss a proposed restructuring of Ghana’s debt, according to a source with knowledge of the talks.
“The talks are expected to focus on ways to reduce Ghana’s debt burden and secure additional financing assurances for the country’s economic programme,” the source said, asking not to be named because the talks are private.
Ghana, which is struggling with its worst economic crisis in a generation, secured a staff-level agreement with the International Monetary Fund in December for a $3 billion loan, though asking lenders to provide financing assurances is a condition for the IMF’s board to sign off the programme.
The country owes China around $1.7 billion.
The finance ministry said it had “fruitful” talks with a Chinese delegation that visited Ghana this month to discuss Ghana’s request for a debt restructuring.
