“I don’t have any criticisms about Chinese involvement in the Ghanaian economy” – Akufo-Addo

President Nana Akufo-Addo has highlighted China’s financial help to the Ghanaian economy in times of difficulty.

This comes on the back of a recent IMF country report that Ghana will likely lose its mineral resources and electricity revenues to China should the country default on paying a $1.9 billion debt.

But Akufo-Addo appears unfazed at such a looming threat from the Asian giants saying he has no problem with the involvement and participation of the Chinese in Ghana’s economy.

Speaking during a panel discussion at the Qatar Economic Forum in Doha, President Akufo-Addo said China has, through the years, become a reliable partner that has supported Ghana’s economy in very difficult and trying times.

He also added that investments from China have been vital to Ghana’s economic growth and development.

“Well, I don’t have any criticisms about Chinese involvement in the Ghanaian economy. They have been very helpful, it’s a matter of controversy in the West. For us, they have been friends and in terms of difficulty they have proven to be a strong partner,” he said.

Since the year 2000, China has lent a lot of money to Ghana. For significant projects like roads, bridges, and power plants, the nation has borrowed around $5 billion from China over two decades.

These loans have assisted Ghana in developing its economy and infrastructure. But they also left the nation heavily indebted. Ghana is trying to pay off its debts, which total more than $30 billion in external debt.

However, there have been complaints that the terms of the Chinese loans are unfair to Ghana.

Source: Newsalertgh