China Not a Significant Factor in Ghana’s Debt Distress – World Bank

The World Bank Group logo is seen on the building of the Washington-based global development lender in Washington on January 17, 2019. Eric BARADAT / AFP

Ghana has relatively low exposure to loans from China and multiple creditors, enabling the country to reach debt restructuring agreements.

Chinese creditors account for only 7% of Ghana’s public external debt, while China accounts for 36% of Zambia’s external debt and 25% of Ethiopia’s, according to a new World Bank report. Ghana’s provisional gross public debt stood at $51.67 billion at the end of Q1 2023, according to the country’s Ministry of Finance. 

  • Get a daily email packed with the latest news and analysis from Africa, Asia, and across the Global South.
  • Read exclusive insights on the key trends shaping China’s relations across the Global South.
  • Full access to the News Feed that provides daily updates on Chinese engagement in the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More
by Barry van Wyk

Most Read

1
Developing Countries’ Debt Servicing Costs to China Are Significant, but Nowhere Near as Much as Other Creditors
2 Chinese Military Fans Discuss Why Indonesia Bought Rafale Instead of J-10C
3
Chinese Cargo Planes Secretly Ferrying Supplies to Iran, Claim Online Sleuths
4 From J-10C to Kaan? Indonesia’s Fighter Jet Deal With Turkey Shocks Chinese Military Fans
5
Indonesia Goes Nuclear, Taps China and Russia for Modular Reactors
6
Thailand in Last-Minute U.S. Talks as 36% Tariff Looms

You Might Like

How Much Ghana Owes China Depends on Who You Ask

At first glance, Ghana doesn’t owe China that much when measured against its outstanding debts to both multilateral development banks like the IMF and the World Bank and, more importantly, bondholders. $1.7 billion in the ...

Ghana’s Finance Minister Will Go to Beijing This Week Seeking Debt Relief

Ghanaian Finance Minister Ken Ofori Atta will head to Beijing on Friday in a bid to re-negotiate Accra’s $1.7 billion debt owed to Chinese creditors. The West African country has

Ghana President Hopeful for IMF Deal in March

Ghana’s President Nana Akufo-Addo is optimistic that the debt-ridden country will reach a bailout deal with the International Monetary Fund by the end of the month. Speaking at a gathering of ambassadors and ...

China’s New Line on Ghana Debt: We Own Less Than 5%, so Why Are You Talking to Us?

Even though talks between Chinese creditors and the Ghanaian government are now underway in Accra to restructure the country’s $1.7 billion of bilateral debt, a narrative that Beijing is delaying the process is taking hold ...

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

More about CGSP
Your IP: 216.73.216.96
Your IP: 216.73.216.96
Your IP: 216.73.216.96
Your IP: 216.73.216.96
Your IP: 216.73.216.96
Your IP: 216.73.216.96
Your IP: 216.73.216.96
Your IP: 216.73.216.96
Your IP: 216.73.216.96
Your IP: 216.73.216.96
Your IP: 216.73.216.96
Your IP: 216.73.216.96
Your IP: 216.73.216.96
Your IP: 216.73.216.96
Your IP: 216.73.216.96