Our meetings with Chinese delegation progressing well – Finance Ministry

The Ministry of Finance has said that the government’s meetings with the Chinese delegation from EXIM Bank China are progressing well.

In a statement on its website, it said discussions have so far been highly cordial and fruitful.

The Chinese delegation ended a 3-day mission to engage the Government of Ghana, following a request for the restructuring of Ghana’s $1.9 billion indebtedness to China.

Joy Business understands that the two governments have exchange data with discussions being held at the technical level, on the parameters of an effective debt treatment.

The government is believed to be seeking among other reliefs, an extension of the moratorium on debt servicing, an extension of maturities and lower interest rates.

Finance Minister, Ken Ofori-Atta, has earlier hinted that a planned high-level government delegation to China has been postponed to late March 2023. This was due to the upcoming National People’s Congress of China meeting scheduled for early March.

The Chinese delegation, as part of the three-day mission, met with the Vice-President Dr. Mahamudu Bawumia, the Minister of Finance and technical teams from the Ministry of Finance.

The Chinese Ambassador to Ghana, Lu Kun, also hosted the delegation at a luncheon yesterday.

In attendance were members of the Chinese delegation, the Minister of Finance; Minister of Foreign Affairs, Shirley Ayorkor Botchwey; Ghana’s Ambassador to China, Dr. Winfred Nii Okai Hammond; and officials of the Ministry of Finance.

Speaking at the luncheon, Mr. Ofori-Atta thanked the Chinese government for their long-standing cooperation and support for Ghana.

He reiterated the need to keep and strengthen that relationship, whilst working towards an exemplary debt treatment solution that could serve as a model for China’s future engagements with other African countries.