Ken Ofori-Atta hopeful of securing financing assurances after China meeting

Ghana's finance ministry has announced that it anticipates securing financing assurances from bilateral lenders "very soon", following meetings held in China.

"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.

The West African nation had previously secured a staff-level agreement for a US$3 billion loan through the International Monetary Fund (IMF) in December, but must first obtain financing assurances on existing debts from bilateral lenders before the IMF board can approve the program. 

China's commerce ministry confirmed that Ghana's finance minister, Ken Ofori-Atta, met with China's vice commerce minister in Beijing on Thursday to discuss ways of strengthening bilateral economic and trade cooperation. Ghana's finance ministry revealed that China is the country's largest bilateral creditor, with debts totaling around US$1.9 billion.