The Chinese government has promised to cooperate with the Ghanaian government to secure Ghana's debt sustainability.
China asserted that it remained Ghana's top commercial and investment partner and that the two countries would work together to provide real advantages to the Ghanaian people.
The Director of Political Affairs of the Chinese Embassy in Ghana, Catherine Danzhu Lou, reaffirmed this during the presentation of some items to the Graphic Communications Group Ltd. (GCGL) last Friday. "We will work closely with our Ghanaian counterpart under the G20 Common Framework in the following consultation to help Ghana realise debt sustainability," she said.
Ato Afful, managing director of GCGL, with assistance from Theophilus Yartey, editor of graphics, Samuel Doe Ablordeppey, editor of news, Mary, and a foreign news editor, gave the things, which included cameras, lenses, computers, and a laptop, to the photo editor, Douglas Anane Frimpong.
According to the Chinese Embassy, the largest circulating newspaper house would get a yearly sponsorship.
Treatment of bilateral debt
Ghana's largest trade partner, China, owes Ghana over $1.9 billion in bilateral loans, and China's participation at the Paris Club table to discuss Ghana's debt treatment was essential in obtaining an agreement with the International Monetary Fund.
After the Paris Club's Official Creditor Committee was established and China consented to co-chair it, this became practicable.
Many nations and commentators stated in the lead-up to that event that China, as a matter of principle and policy, did not wish to grant debt relief to any of its assistance to recipient nations.
This led to some pressure on China to help its partner nations that were having trouble paying back their debts to her from the national level, the donor community, and the IMF.
The COVID-19 pandemic's consequences and Russia's war in Ukraine are mostly to blame for the difficulty in debt servicing.
trade connections
Speaking on the two nations' commercial relations, Ms. Lou said that they increased by 7.3% over the prior year to an unprecedented $10.2 billion in bilateral trade volume last year.
She stated that the exports of Ghana to China, which also surged by 60%, comprised cocoa, precious minerals, and non-traditional goods.
On the other hand, Ms. Lou added, Chinese businesses continued to invest in a number of sectors of the Ghanaian economy, including the airline industry, power generation, steel, and ceramics, all of which had significantly increased Ghana's productivity.
The Director of Political Affairs for the Chinese Embassy also made mention of the founding of the China-Ghana Agriculture Luban Workshop, which was created to mechanise and enhance cassava output.
Ms. Lou said, "We will continue to support technical and vocational education in Ghana to equip the youth of Ghana with cutting-edge technologies."
initiative for civilisation
The Global Civilization Initiative (GCI) presented by Chinese President Xi Jinping, which called for the growth of inter-civilizational contacts, mutual learning, and the promotion of
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