Ghana has been ranked the ninth most indebted African country to the world’s second biggest economy, China.
China has over the past few years established itself as one of the world’s economic superpowers as well as one of the biggest lenders to African countries.
Fiscal support from China has helped countries on the continent pursue various forms of development, but has on the downside riddled several nations on the continent with debt.
Data from Africa Facts Zone, indicate that Ghana ranks 9th on the continent in terms of debts owed the Asian superpower. Africa Facts Zone estimates that Ghana owes China about $3.4 billion.
Angola places first with a total debt of $25 billion, followed by Ethiopia ($13.5 billion), Kenya ($8 billion), Congo ($7.3 billion), Sudan ($6.4 billion) and Zambia ($6 billion).
The remaining are Cameroon ($5.5 billion), Nigeria ($4.8 billion), Ghana ($3.5 billion) and DR Congo ($3.4 billion).
