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    IMF endorses ECG privatisation

    IMF endorses ECG privatisation

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    Ablekuma North rerun: Journalist injured following policeman’s slap

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    Three teenagers jailed 10 years each for armed robbery in Buobai

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    Sean ‘Diddy’ Combs to be sentenced on October 3

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    I spent $500,000 on Ibrahim Traoré movie –Lil Win

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    ‘You are going to enjoy me’ – Kudus tells Tottenham fans

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    Richard ‘Agadas’ Boadu returning to Kotoko

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    Tottenham unveil Mohammed Kudus after completing move from West Ham

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    Ex-NBA star Dwight Howard’s wife, Amber Rose, files for divorce after 6 months of marriage

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    Otumfuo Osei Tutu II to galvanise mining sector for Baba Yara stadium and Nyinahin sports projects

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    Ghana’s Chef Abbys makes TIME’s 100 Most Influential Creators list

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    Mpox cases rise to 170 with 7 new infections

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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

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

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      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

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      Meet the African tribe that offers free sex to guests

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

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

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      IMF endorses ECG privatisation

      IMF endorses ECG privatisation

      Man sentenced to 15 years for cocaine possession, it was powdered milk

      Four arrested, granted bail in connection with 3.3 tonnes cocaine bust

      Dr Bawumia to launch ‘Ghana Card at Birth’ on March 14

      Dr. Bawumia condemns Ablekuma North violence, urges presidential action

      Ablekuma North rerun: Journalist injured following policeman’s slap

      Ablekuma North rerun: Journalist injured following policeman’s slap

      Three teenagers jailed 10 years each for armed robbery in Buobai

      Three teenagers jailed 10 years each for armed robbery in Buobai

      KNUST police arrest 2 persons for assaulting SRC executives

      KNUST student jailed 10 years for robbing hairdresser

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      Sean ‘Diddy’ Combs to be sentenced on October 3

      Sean ‘Diddy’ Combs to be sentenced on October 3

      Shatta Wale dumps Hearts for Kotoko

      Shatta Wale to headline 2025 President’s Cup this weekend at the Accra Sports Stadium

      I spent $500,000 on Ibrahim Traoré movie –Lil Win

      I spent $500,000 on Ibrahim Traoré movie –Lil Win

      Medic who tweeted about Kuami Eugene’s health condition confirms 3-month suspension

      My life turned around after a trip to Volta Region – Kuami Eugene 

      Sarkodie, Darko Vibes,King Promise will perform at Africa Fan Zone at Paris Olympics – French Embassy

      Sarkodie sues Ecobank over lookalike advert

      The gospel music industry is pure evil – Esther Smith

      The gospel music industry is pure evil – Esther Smith

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      Ex-Arsenal boss Wenger in ‘advanced talks’ with Milan to replace Gattuso

      Wenger defends ‘fantastic’ Club World Cup

      ‘You are going to enjoy me’ – Kudus tells Tottenham fans

      ‘You are going to enjoy me’ – Kudus tells Tottenham fans

      Justice Blay: Meet Ghana Premier League star

      Justice Blay apologizes for controversial comments on radio interview

      Blay ruled out for rest of season – report

      I was not the only drunkard at Asante Kotoko – Justice Blay in explosive clapback

      Blay ruled out of Kotoko, Hearts game

      Kwame Poku, Camara snatched my girlfriends – Justice Blay reveals

      Richard ‘Agadas’ Boadu returning to Kotoko

      Richard ‘Agadas’ Boadu returning to Kotoko

      Tottenham unveil Mohammed Kudus after completing move from West Ham

      Tottenham unveil Mohammed Kudus after completing move from West Ham

      Ex-NBA star Dwight Howard’s wife, Amber Rose, files for divorce after 6 months of marriage

      Ex-NBA star Dwight Howard’s wife, Amber Rose, files for divorce after 6 months of marriage

      Otumfuo Osei Tutu II to galvanise mining sector for Baba Yara stadium and Nyinahin sports projects

      Otumfuo Osei Tutu II to galvanise mining sector for Baba Yara stadium and Nyinahin sports projects

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      Ghana’s Chef Abbys makes TIME’s 100 Most Influential Creators list

      Ghana’s Chef Abbys makes TIME’s 100 Most Influential Creators list

      Mpox cases rise to 170 with 7 new infections

      Mpox cases rise to 170 with 7 new infections

      KATH doctor dies over lack of laboratory for treating ‘heart attack’

      KATH doctor dies over lack of laboratory for treating ‘heart attack’

      Single women contributed more to the spike in HIV/AIDS than men – Study

      15,290 new HIV infections recorded in 2024- Ghana AIDS Commission

      5 cases of monkeypox confirmed in Ghana

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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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