Government postpones meeting with China on debt cancellation to March 2023

Image credit: Jose Luis Magana/AP Photo

Finance Minister, Ken Ofori-Atta, has hinted that a planned high-level government delegation to China has been postponed to late March 2023.

This is owing to the upcoming National People’s Congress of China meeting scheduled for early March.

However, the Finance Minister said bilateral talks will continue ahead of this important mission.

The government is seeking under the G20 Common Framework for Debt Treatment to get debt forgiveness from some bilateral and multilateral partners.

Key among them is China, whom Ghana is indebted to the Far East country to the tune of over $1.7 billion.

This is compared with $1.9 billion to other Paris Club members.

Managing Director of the IMF, Kristalina Georgieva, confirmed in January 2023 that Ghana just became the fourth country to seek treatment under the Common Framework.

This sent a signal that it was seen as an important pathway for debt resolution.

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