Ghana, according to data captured by the World Bank International Debt Statistics, indicate the country owes some $1.165 billion in bilateral loans.
The bilateral loans owed a total of 19 countries, has the U.S. as the country’s biggest bilateral creditor with $245.1 million, followed by China with $229 million.
Together, bilateral loans of the world’s two biggest economies amount to 40.6 per cent of the nation’s bilateral debt.
Following China in the third, fourth and fifth position are; France, South Korea and the UK with a total bilateral loan of $339.6 million.
The remaining 14 bilateral creditors to Ghana include; Israel, India, Netherlands, Belgium, Austria, Turkey, Brazil, Spain, Germany, Sweden and Kuwait.
The country is expected to pay back these loans between 2020 and 2022.
Ghana’s debt stock comprises of multilateral (IMF and World Bank), bilateral and commercial (international and domestic) loans.
The nation’s public debt stock currently stands at 71 per cent of Gross Domestic Product (GDP) which in monetary terms translates into Ghs 282.6 billion.
