Tag: Ghana

U.S. Treasury Secretary Janet Yellen is in Africa touting the Biden administration’s reenergized Africa policy. Her visit comes as several African countries are struggling with debt distress and Zambia and Ghana have officially defaulted. Debt’s prominence as a talking point is somewhat awkward, considering ...

China is pushing for a free trade agreement with South America’s Mercosur bloc or any of its individual members (Brazil, Argentina, Paraguay and Uruguay.) The recent election in Brazil could be a game changer, with rumors that trade talks could be on the agenda of incoming President Lula ...

Job creation is one of the most important issues in Africa-China relations. Two fascinating recent research articles give different takes on how engagement with China affects African development. The first focuses on the controversial issue of the importation of Chinese workers ...

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 ...

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 ...

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 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 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 ...

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 ...

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 ...

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 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 ...