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    Ghanaian nationals extradited for alleged roles in stealing more than $100m through romance scams, other fraud

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    Pope Leo XIV pays tribute to victims of Ghana helicopter crash

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    Search intensifies for three siblings missing in Accra

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    Government targets shea industry growth as Tamale prepares for World Shea Expo 2025

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    Kumasi vigil for Daddy Lumba postponed indefinitely

    Kumasi vigil for Daddy Lumba postponed indefinitely

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    Shatta Wale’s Lamborghini seized by EOCO in joint FBI operation

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    Thousands turn up for Daddy Lumba vigil

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    Kotoko 0-1 Wydad: There were mistakes and they affected us- Karim Zito

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    Police investigate ‘unnatural’ death of Senegalese goalkeeper in Kumasi

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    Live Streamed: Asante Kotoko vs WAC

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    FIFA confirms dates for Ghana’s September World Cup Qualifiers

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    Thomas Partey granted bail on rape charges

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    Ghana records 42 new HIV infections every day – AIDS Commission

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    Check your kitchen! Tasty Tom Tomato Mix recalled after FDA directive

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    First Mpox death recorded in Ghana; 23 new cases confirmed

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      This Ashanti Prince designed and built a signal station in Trinidad for the British in 1883

      This Ashanti Prince designed and built a signal station in Trinidad for the British in 1883

      Songo, the African tribe where children are raised by their uncles

      Songo, the African tribe where children are raised by their uncles

      Manhyia puts a ban on funerals in Asanteman

      Details of the symbol of authority of the Ashanti Region, the Asanteman flag

      The story of the Ghanaian professor emeritus who did not attend secondary school

      The story of the Ghanaian professor emeritus who did not attend secondary school

      The intriguing history of the ancient Egyptian bust that looks like Michael Jackson

      The intriguing history of the ancient Egyptian bust that looks like Michael Jackson

      Meet the African tribe that offers free sex to guests

      Meet the African tribe that offers free sex to guests

      Meet Kobena Sekyi, the educated elite who never wore European clothing

      Meet Kobena Sekyi, the educated elite who never wore European clothing

      This African tribe from Togo and Benin were experts in penis enlargement way before plastic surgery

      This African tribe from Togo and Benin were experts in penis enlargement way before plastic surgery

      Who is the real Yaa Asantewaa

      Who is the real Yaa Asantewaa

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      Two brothers jailed 50 years for robbing Uber driver

      8 teenage girls arrested for stealing over GH¢20,000

      Boy, 19, in court over 10-year-old girl’s defilement

      High Court sets October 23 to hear injunction against deportation of foreign galamseyers

      Ghanaian nationals extradited for alleged roles in stealing more than $100m through romance scams, other fraud

      Ghanaian nationals extradited for alleged roles in stealing more than $100m through romance scams, other fraud

      Pope Leo XIV pays tribute to victims of Ghana helicopter crash

      Pope Leo XIV pays tribute to victims of Ghana helicopter crash

      Search intensifies for three siblings missing in Accra

      Search intensifies for three siblings missing in Accra

      Government targets shea industry growth as Tamale prepares for World Shea Expo 2025

      Government targets shea industry growth as Tamale prepares for World Shea Expo 2025

      Trending Tags

      • Ghana Police
      • politics killing
      • Kumasi Metropolitan Assembly
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      Kumasi vigil for Daddy Lumba postponed indefinitely

      Kumasi vigil for Daddy Lumba postponed indefinitely

      Shatta Wale’s Lamborghini seized by EOCO in joint FBI operation

      Man named by EOCO in Shatta Wale Lamborghini seizure serving 7 years in US jail over $4million fraud

      Shatta Wale’s Lamborghini seized by EOCO in joint FBI operation

      Shatta Wale’s Lamborghini seized by EOCO in joint FBI operation

      Thousands turn up for Daddy Lumba vigil

      Thousands turn up for Daddy Lumba vigil

      Highlife legend Daddy Lumba pass away at 60

      Bank Hospital denies breach of confidentiality in Daddy Lumba’s care

      Pastor in court over alleged assassination prophecy about Shatta Wale

      Pastor in court over alleged assassination prophecy about Shatta Wale

      Trending Tags

      • Shatta Wale
      • Wendy Shay
      • Gaming
      • Movie
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      Belgium keen on handing Ghana’s Francis Amuzu call up

      I want to play for Ghana with or without World Cup – Francis Amuzu

      Kotoko 0-1 Wydad: There were mistakes and they affected us- Karim Zito

      Kotoko 0-1 Wydad: There were mistakes and they affected us- Karim Zito

      Police investigate ‘unnatural’ death of Senegalese goalkeeper in Kumasi

      Police investigate ‘unnatural’ death of Senegalese goalkeeper in Kumasi

      Live Streamed: Asante Kotoko vs WAC

      Live Streamed: Asante Kotoko vs WAC

      FIFA confirms dates for Ghana’s September World Cup Qualifiers

      FIFA confirms dates for Ghana’s September World Cup Qualifiers

      Ballon d’Or: Virgil van Dijk, Cristiano Ronaldo, Sadio Mane on shortlist for award

      2025 Ballon d’Or nominees list released

      Qatar 2022: ‘Black Stars will come back stronger’ – Thomas Partey

      Villarreal Supporters Group President wants Partey’s move to be ‘suspended’

      Thomas Partey granted bail on rape charges

      See the conditions of Thomas Partey’s bail after he appeared in court today

      Thomas Partey granted bail on rape charges

      Thomas Partey granted bail on rape charges

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      Ghana records 42 new HIV infections every day – AIDS Commission

      Ghana records 42 new HIV infections every day – AIDS Commission

      DR Congo starts Ebola vaccinations in east of country

      World-first gonorrhoea vaccine rollout begins in UK

      Ghana records two new Mpox cases, total now 119 – GHS

      20 new Mpox cases confirmed in Ghana bringing total to 302

      Check your kitchen! Tasty Tom Tomato Mix recalled after FDA directive

      Check your kitchen! Tasty Tom Tomato Mix recalled after FDA directive

      First Mpox death recorded in Ghana; 23 new cases confirmed

      First Mpox death recorded in Ghana; 23 new cases confirmed

      Kenya drops visa requirements for all African countries

      Kenya drops visa requirements for all African countries

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        This Ashanti Prince designed and built a signal station in Trinidad for the British in 1883

        This Ashanti Prince designed and built a signal station in Trinidad for the British in 1883

        Songo, the African tribe where children are raised by their uncles

        Songo, the African tribe where children are raised by their uncles

        Manhyia puts a ban on funerals in Asanteman

        Details of the symbol of authority of the Ashanti Region, the Asanteman flag

        The story of the Ghanaian professor emeritus who did not attend secondary school

        The story of the Ghanaian professor emeritus who did not attend secondary school

        The intriguing history of the ancient Egyptian bust that looks like Michael Jackson

        The intriguing history of the ancient Egyptian bust that looks like Michael Jackson

        Meet the African tribe that offers free sex to guests

        Meet the African tribe that offers free sex to guests

        Meet Kobena Sekyi, the educated elite who never wore European clothing

        Meet Kobena Sekyi, the educated elite who never wore European clothing

        This African tribe from Togo and Benin were experts in penis enlargement way before plastic surgery

        This African tribe from Togo and Benin were experts in penis enlargement way before plastic surgery

        Who is the real Yaa Asantewaa

        Who is the real Yaa Asantewaa

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      China’s collateralized loans may provide access to Ghana’s mineral revenue and electricity sales, warns IMF

      China’s collateralized loans may provide access to Ghana’s mineral revenue and electricity sales, warns IMF

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      Details have emerged regarding Ghana’s collateralized loans from China, revealing potential risks to the country’s mineral resource revenue and electricity sales, according to the International Monetary Fund (IMF). Over the past two decades, Ghana has relied on Chinese loans, accumulating nearly $5 billion from 41 different loans since 2000. However, Ghana’s borrowing spree has left the country trapped in debt and grappling with its most severe economic crisis in a generation, with an external debt portfolio exceeding $30 billion.

      Under the loan agreements, if Ghana defaults on its debt obligations, China has the right to utilize proceeds from Ghana’s oil, cocoa, bauxite, and electricity sales to settle the debt. This arrangement exposes Ghana to potential losses in revenue from its valuable resources. In debt negotiations involving developing nations, China often plays a crucial role at the negotiation table. While China is the largest bilateral lender globally, its lending policies and renegotiation practices remain opaque.

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      According to the World Bank, the world’s poorest countries faced $35 billion in debt-service payments to official and private sector creditors in 2022, with China alone accounting for 40% of the total. In Ghana’s case, at least eight collateralized loans from China have been secured with different mineral resources serving as collateral against default. As of the end of 2022, Ghana owed China $1.9 billion, with $619 million constituting collateralized loans.

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      The IMF highlights that Ghana’s collateralized debt is exclusively held by China, stemming from four loan agreements signed between 2007 and 2018, totaling $619 million for infrastructure projects. These loans are backed by the production of commodities such as cocoa, bauxite, and oil, as well as electricity sales. Collateralized debt refers to contracted or guaranteed debt where the creditor possesses rights over an asset or revenue stream to secure repayment in the event of default.

      The IMF emphasizes that statutory funds should not be used to collateralize revenue streams or issue debt. Furthermore, the governing authority should not issue any objection certificates to statutory funds for this purpose. The Fund also requests that the government provide corresponding loans or derivatives for all encumbered assets used as collateral.

      These developments shed light on the complexities and potential risks associated with Ghana’s debt obligations to China, raising concerns about the country’s financial stability and its ability to effectively manage its resources while servicing its debts.

      –The Post Ghana

      Tags: International Monetary Fund (IMF)

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