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Data compiled from the US-China Economic and Security Review Commission has shown that Ghana is the most indebted to China among 15 African countries. Guinea followed Ghana with $21.9 billion, Ethiopia followed with $14.8 billion and Tanzania with $12.6 billion.<\/p>\n Reacting to the data, Economist, Theophilus Acheampong, expressed his shock with Ghana being number one on the list.<\/p>\n He added that this has some semblance to what happened to nations in the 1970s that led to HIPC and other debt interventions.<\/p>\n He wrote on X: \u201cVery interesting visual. I thought Ethiopia would have taken more Chinese loans than Ghana. Data comes from the US-China Economic and Security Review Commission. According to the Commission, 60% of China\u2019s debtor nations were in financial distress in 2022, up from 5% in 2010. But how is this any different from the debt distress of the 1970s, late 90s to early 2000s, which led to the likes of HIPC\/MDRI? Same game, just different players!\u201d<\/p>\n SSD\/NOQ<\/p>\n Very interesting visual. I thought Ethiopia would have taken more Chinese loans than Ghana. Data comes from the US-China Economic and Security Review Commission. According to the Commission, 60% of China\u2019s debtor nations were in financial distress in 2022, up from 5% in 2010. But\u2026\u00a0pic.twitter.com\/ni85fl8Ndl<\/a>\u2014 Theo Acheampong, PhD (@mytheoz)\u00a0December 11, 2023<\/a><\/p>\n<\/blockquote>\n Source:\u00a0<\/strong>www.ghanaweb.com<\/p>\n <\/p><\/div>\n
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The data showed that the total loans provided by China to Ghana following the HIPC Initiative completion is $31.1 billion which makes up the total of all Chinese loans taken by the country.<\/p>\n\n