Ghana’s finance ministry: expects financing assurances ‘very soon’ amid China visit

BEIJING/ACCRA (Reuters) – Ghana’s finance ministry said on Friday after meetings it held in China that it expected to secure financing assurances “very soon”.

Ghana secured a staff-level agreement through the International Monetary Fund in December for a $3 billion loan but must first ask bilateral lenders to provide financing assurances on existing debts before the IMF board can sign off on the programme.

“So far had very positive and encouraging meetings in China! Looking forward to securing external assurances very soon, even as we pass our outstanding domestic revenue bills back home. Great progress and all fronts,” Ghana’s finance minister Ken Ofori-Atta said on Twitter.

China’s vice commerce minister met with Ghana’s finance minister in Beijing on Thursday to discuss strengthening bilateral economic and trade cooperation, China’s commerce ministry said on Friday.

China is Ghana’s biggest bilateral creditor with about $1.9 billion of debt, according to Ghana’s finance ministry.

(Reporting by Joe Cash and Cooper Inveen and Christian Akorlie in Accra; Additional Reporting by Rachel Savage; Writing by Anait Miradzhanian; Editing by Jacqueline Wong and Angus MacSwan)