Akufo-Addo Passionately Appeals To Germany To Beg China To Support Ghana's Debt Restructuring Programme

• President Akufo-Addo has passionately appealed to Germany to beg China on behalf of Ghana
• This is in respect of the country’s debt restructuring programme which is an IMF condition before the $3 billion bailout package is secured
• Ghana is currently engaging the Paris Club of which China is an ad hoc member for support to help restore the dwindling economic growth

Ghana has implored Germany to beg China to throw its weight behind the country’s debt restructuring efforts.

According to president Nana Akufo-Addo who passionately appealed to Germany, said the Asian country which is an ad hoc member of the Paris Club must buy into Ghana’s debt restructuring efforts.

Ghana engages Paris Club for debt forgiveness

Ghana is currently engaging the Paris Club for support to help restore its dwindling economic growth which has necessitated its return to the International Monetary Fund (IMF) for a $3 billion economic bailout package.

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As a prerequisite to the successful negotiation with the Bretton Woods Institution, the country needs to restructure its current ‘unsustainable’ debt to a sustainable level.

It is thus engaging the Paris Club for support in this regard which will see it get debt relief.

Ghana urges creditors to support government's debt restructuring efforts

Speaking during a courtesy call on him by the visiting German Finance Minister, Christian Lindner on Friday, January 3, 2023, the president said there’s an urgent need for other creditors to support the government’s efforts to restructure both the external and domestic debts of Ghana, to enable the IMF deal to fall through quickly.

“We have good relations with China. We will like you to encourage China to participate in these programmes as quickly as possible…A very important consideration for us is the financial stability fund that has been promised us as one of the key outcomes of these negotiations and definitely once again, your voice in trying to bring that into being is something that we would appreciate very much,” President Akufo-Addo told Finance Minister Lindner.

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Those comments have sparked some reactions online some of which have been compiled by YEN.com.gh.

Ing Pagiis Emmanuel

Was it not the same man who made a speech that African leaders should stop begging?

Joshua Bechasiku Addison Junio

Incredible and sad moment for the People of the Republic of Ghana. Why have we decided to go back 100 times by making this man the President? Governance in Ghana can be equated to what is happening in the Amazons.

Kofi Essilfie

Ghana Beyond Aid now Ghana Begging for Handouts. Ghana is now the "sorriest among all sorriable nations".

Maxkay Brave

After making noises in this country Ghana and everyone believe in you and voted for you not knowing you don't have any idea of being a leader.

Godknows Nuworkpor Billy

Somebody wants the money to drop quickly so that he can hire a luxurious private jet and bathe in the air. China, please we beg you to come to our aid so that someone may continue his luxurious lifestyle whilst the rest of us continue to wallow in poverty.

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Simon Appietus Niiriba Boare

After collecting the aid we will use it to change car tyres and batteries. What a government!

Akufo-Addo urges African countries to stop ‘begging’

Earlier, YEN.com.gh reported that the president had made a rallying call to African countries to stop begging for aid.

According to him, desisting from that practice will earn Africa global respect and change negative perceptions about the continent.

Source: YEN.com.gh