Ghana would renegotiate a $3bn Chinese loan if the opposition New Patriotic party wins what are expected to be closely-fought presidential elections later this year in one of Africa’s fastest-growing economies.
In an interview with the Financial Times, Nana Akufo-Addo, the NPP presidential candidate, took aim at new debt contracted by President John Atta-Mills’ government to finance gas pipelines and other infrastructure.
This includes the $3bn China Development Bank loan secured last year as part of a putative $13bn package of credit lines, one of the largest on offer as part of Beijing’s efforts to access natural resources and strengthen its commercial foothold in Africa.
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