Mahama to head to China as Ghana’s economic crisis worsens
In depth
Issue 283
- 08 Aug 2014
| 7 minute read
Faced with dramatically worsening public finances, President John Dramani Mahama is to visit China late this month to try to unlock the outstanding disbursement of a $3bn loan that China Development Bank (CDB) signed with Accra in 2011. This move follows the mid-July announcement by finance minister Seth Terkper that his government will only be able to borrow a $1.5bn tranche out of the $3bn the two parties had initially agreed. Due to disagreements with CDB over repayment terms for the second tranche, Ghana has managed to access only $600m so far, and observers are pessimistic about the odds of securing the remaining $900m.
Want to read more?
Extra Large Article
£595
(Access to one African Energy article)
Don't have an account?
Register for access to our free content
An account also allows you to view selected free articles, set up news alerts,
search our African Energy Live Data power projects database and view project locations on our interactive map
Register