United States And China Promise Ghana Financial Aid As Both Countries Battle For Influence In Africa
- Ghana seems to be cashing in on an ongoing battle between the USA on one hand and China and Russia on the other hand for more economic and political influence in Africa
- China has agreed to support Ghana as Ghana struggles to pay its huge external debt
- Also, the USA has promised Ghana at least $139 million in bilateral support from the 2024 fiscal year
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Ghana and some African countries are set to benefit from a quiet turf war between the United States and China.
Both countries are trying to assert their sphere of economic and political influence on the resource-rich African continent, with China overtaking the US in recent times.
US vice president Kamala Harris arrived in Accra on Sunday, March 26, 2023, to begin a three-nation African tour that is expected to span one week.
Source: UGC
Her visit is seen as the latest in a series of visits by senior U.S. officials as the world superpower seeks to counter growing Chinese and Russian influence in Africa.
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Ghana cashing in on turf war between US and China
Cash-strapped Ghana recently stormed Beijing for talks over a $1.7 billion debt that the country struggling to pay amid a debilitating economic and financial crisis that has been blamed on recklessness but also on Russia's invasion of Ukraine and the Covid-19 pandemic.
Ghana owes a total of some $5 billion in external debts, so striking a deal with China over its huge portion is critical in processes Ghana needs to complete to secure a $3 billion loan from the International Monetary Fund (IMF).
During talks with Ghana's finance minister Ken Ofori-Atta, China's finance minister Liu Kun said the Asian giant is willing to support Ghana's question to achieve debt sustainability and development as Ghana facing trying times.
“We know that these are short-term challenges which we, as responsible creditors, remain committed to resolving," he said.
He did not give details about the quantum of financial aid China will give to Ghana but explained that China's "long-standing and prosperous relationship" with Ghana compels China to help.
This assurance from China relieves Ofori-Atta from one more burden on the arduous road to getting the IMF board to approve the badly-needed loan.
The United States, realising that it is losing its grip on Africa to the creeping dominance of China and Russia asked Kamala Harris to tour Ghana, Zambia and Tanzania this week with goodies.
For Ghana, the US is providing $100 million to be shared with four other West African coastal countries to fight violent extremism and terrorism.
That is not all, from the 2024 fiscal year, the US will support Ghana with an additional $139 million in bilateral assistance.
Media-shy Russia seems missing in all of this, but time will be the best judge of the gains the country has made in this geopolitical powerplay.
Akufo-Addo declares LGBTQ+ activities are not illegal in Ghana
YEN.com.gh has reported in a separate story that Nana Akufo-Addo was criticised by a section of the Ghanaian public for comments deemed to be inviting LGBTQ+ activities in Ghana.
The president told journalists at the Jubilee House on March 27, 2023, that LGBTQ+ activities are not illegal in Ghana.
Although the comment is accurate, many feel he should have made a statement in support of the widespread dislike for LGBTQ+ activities by the majority of Ghanaians.
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Source: YEN.com.gh
