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IMF Says Collateral At Risk In Bauxite-Backed Loan From Sinohydro To Ghana

IMF Says Collateral At Risk In Bauxite-Backed Loan From Sinohydro To Ghana

Repayment of a US$2-billion loan backed by a portion of Ghana’s bauxite reserves may be defaulted upon according to a report published last week quoting the International Monetary Fund (IMF). According to the Natural Resource Governance Institute’s report entitled Resource-Backed Loans: Pitfalls...

Events

Ghana Seeking Investors For Bauxite Extraction: President Akufo-Addo

An integrated aluminium industry is the goal of Ghana’s government, and the country’s president intends to achieve it with the help of private investors from around the globe. Such was the message from President Nana Akufo-Addo to Parliament late last week, promising a formal request for proposals will be distributed by the end of this […]

Ghanaian Think Tank Counsels Caution On Bauxite Deal With China

Opposition continues to mount against the US$2-billion bauxite-for-infrastructure deal between the government of Ghana and the People’s Republic of China’s Sinohydro Group Limited, as a local think tank says that the agreement puts Ghana at risk of judgment debts and abandoned projects. IMANI Africa released a seven-page missive against the deal earlier this week, noting […]

Ghana To Make Up Shortfall In US$2 Billion Bauxite Deal With China

New details have emerged in the US$2 billion deal between Ghana and China’s Sinohydro Corp., including a provision that will mandate the west African nation make up any difference between the bauxite revenue gleaned from the deal by Sinohydro and the monies spent on Ghanaian infrastructure. The deal, which was formalized in May, contemplates Sinohydro […]

Infrastructure Improvements Outweigh All Other Concerns Over Bauxite Deal With China – Ghana PM Osei Owusu

Debate continues to rage over the proposed US$2-billion deal between the west African republic of Ghana and the People’s Republic of China that would have China’s Sinohydro Group Limited gain access to Ghana’s significant bauxite resources in exchange for badly-needed infrastructure improvements. Earlier this week Ghana’s First Deputy Speaker of Parliament Joe Osei Owusu told […]

Ghana’s Minority Leader Calls On IMF To Review Bauxite Deal With China

Pushback is increasing against a deal between the governments of Ghana and the People’s Republic of China over a US$2-million deal to trade Ghanaian bauxite ore for the construction of badly-needed infrastructure in the country by China, as Thursday saw Ghana’s minority leader call for the deal to be reviewed by the International Monetary Fund […]