- As part of a memorandum signed between the two nations last year, Beijing will finance $2 billion worth of rail, road and bridge networks, and in exchange, China will be granted access 5% of Ghana’s bauxite reserves.
- The deal has drawn criticism from environmental activists, political opposition, and international government investment partners, with a new report from risk consultancy EXX Africa highlighting a lack of transparency and increasing threat to debt sustainability.
- Last week, in his first budget following the latest IMF visit, Ghana’s Finance Minister Ken Ofori-Atta pledged to boost spending by 21%, promising higher public sector wages and more infrastructure projects. He also announced plans to raise $3 billion in international debt markets.
