Tag: Ghana
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Mixed Reactions in Asia, Africa About the Return of Chinese Tourists
For the first time in three years, as of Sunday, Chinese nationals are now permitted to travel abroad, prompting a wave of nervous excitement among tourism operators in Asia and elsewhere about the long-awaited return of cash-flush Chinese travelers. Outbound travel ...
The 2022 Africa-China Year in Review With Gyude Moore
Chinese trade with Africa is widely expected to break yet another record in 2022, while Chinese lending to countries across the continent fell again. Meantime, African leaders this year also forcefully pushed back against both the U.S. and China to avoid ...
Ghana Shows the Global South’s Debt Problem is Bigger than China
The news that Ghana has defaulted on its external debt is sending shivers through the continent. It immediately raises questions about how the Ghanaian people will overcome the crisis and which country could be next. In response to the default, today’s newsletter examines the debt issue from ...
Ghana Becomes Latest Global South Country to Default on Debt
Ghana announced it will suspend payments on most of its debt to bondholders, other commercial lenders, and foreign governments, officially putting it in default. The announcement comes a week after a staff-level meeting with the IMF and a ratings downgrade. Ghana’s economy is spiraling, with 70%-100% of government revenue going to ...
One of China’s Top Africa Diplomats in Ghana Just as Debt Crisis Unfolded
One of China's most senior Africa diplomats, Special Representative Liu Yuxi, was in Ghana on the same day the country's finance ministry announced it would suspend debt repayments to external creditors. Liu appears to be on a regional tour of West Africa , so ...
Zambia’s President Hichilema Clarifies Chinese Loans’ Role in Debt Crisis
As Ghana sinks into debt distress, many are looking to Zambia’s debt restructuring process for clues on how China will feature. Zambia’s President Hakainde Hichilema provided a glimpse into his government’s thinking about Chinese debt at a Council on Foreign Relations event ...
China’s Growing Influence in West Africa
As former colonial powers like France and the United Kingdom lose their relevance in West Africa, the region is pivoting to China. This trend comes as China’s own confidence in West Africa is growing, despite relatively slow engagement compared to other parts of the ...
Here We Go Again… More Blackface on Chinese Television
The Hong Kong-based television network TVB is facing criticism following this week's broadcast of its popular drama series Come Home Love: Lo and Behold, which featured actors wearing blackface. The offending scene had a number of young Hong ...
Ghana’s Ex-President Calls for Africa-China Trade Development
Ghana’s former President (and possible future election contender), John Dramani Mahama, called for Africa to close its trade gap with China and to move up the value chain, away from exporting raw materials. He ...
Ghana, IMF Differ Over Whether Chinese Bauxite Deal Should be Counted as Part of the Country’s National Debt
Ghana is moving to restructure its ballooning debt as part of an IMF rescue plan that's now under discussion between the two sides. As part of the process, Accra is reaching out to both local and international investors ...
Ghana Commissions First Roads Built Under Controversial Bauxite Deal
Ghana’s Vice President Mahamudu Bawumia this week commissioned the first road infrastructure built under a controversial $2 billion resource-for-infrastructure deal with the Chinese conglomerate Sinohydro. Bawumia was eager to claim the inauguration of 441 km of roads in the Cape Coast region as ...
Ghana’s Embassy in China Says It Had Nothing to Do With Aisha Huang’s Return
The Ghanaian government's efforts to distance itself from the exploding controversy over the re-arrest of illegal mining kingpin Aisha Huang (aka "the Galamsey Queen") has now reached the embassy in Beijing, where Ambassador Winfred Nii Okai Hammond said his mission did not issue her visa.