Breaking News: South Korea Forgives Ghana's $4.7 Billion Debt - Here’s Why

Eurobond holders which South Korea is part of have forgiven Ghana's $4.7 billion debt. This generous act caught the world's attention, raising questions about the motives behind it and its implications for both nations.
In this video, we delve into the reasons behind South Korea's decision and what it means for Ghana's future. We explore the economic struggles Ghana has faced since 2020 and how this debt relief can provide much-needed breathing room for its economy. We also discuss the additional $2 billion investment from South Korea to enhance Ghana's healthcare, education, environment, and agriculture sectors.
Why would South Korea forgive such a large debt? We look at South Korea's history of international aid and how this move strengthens the relationship between the two countries, paving the way for future cooperation and trade.
Join us as we uncover the details and implications of this significant financial decision. Don't forget to like, subscribe, and hit the bell icon for more insightful videos from AS1 News!
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[@user-dq6mh5nm5x]

Aww Ghana my Motherland, God please give us a Leader not politicians

[@zigibeat3689]

The problem we have as Ghanaians is allowing "Tibonkoso" person like Mahama who was borrowing at higher rate without thinking for the future. Busy buying apartments in Dubia. That's what's gotten us here. High interest rates borrowing. They don't read!!

[@antwidesmond9602]

​@@zigibeat3689 stop this nonsense is mahama still in power why don't you blame Nana addo and you are here typing foolishness the Truth we can't speak is what is killing us today

[@alexasante897]

Did you here NPP name on the Dubai property list?

[@mariamampaware5287]

South Korea, we the people of Ghana Thank you so much . Hope our leaders will think about the Citizens more than their pockets.

[@futuretechworld576]

This will never make sense to me Ghana produces gold

[@mercybaffoe1025]

So what jealousy hypocrite peoples

[@ProdKodaa]

lol foreign companies take the majority of the revenue from the gold

[@outlyfe7570]

The deal was done at the first negotiation .

[@zionlee3644]

S. Korea is smart. They know they will need Ghana again in the the future

[@ocsarpong9500]

Oooh, this our leaders don't have shame and they will go and initiate another loan from them again mark my words...

[@FosToshi_CrypToshi]

arh, while your resources are they, you want them to use their money for campaign, you think the money they are giving out during campaign are free

[@BernardAsare-bh9gp]

I can't remember but Nkrumah gave a lot of money to that country

[@original.prince.media.]

That's true

[@AfromemeGod.]

Ahh ahh Ghana gained independence with South Korea in the same era now look at us.

[@MrHOPPONG]

So sad. Ghana was richer than south Korea during independence. Nothing is for free.

[@biney353]

America is rich but they blow money from chine

[@zionlee3644]

Ghana is still RICHER than S Korea.

[@MrHOPPONG]

@@zionlee3644 Can you prove it? I know your answer will be based on our resources. We do not benefit most from our resources. Colonialists and their corporations are the ones benefiting most from our resources. Until we nationalise our resources and demand processing them ourselves, we will never see the full benefits.

[@nt3264]

​@@zionlee3644 In what way?????? 😂

[@zionlee3644]

@@nt3264 In EVERY way Possible, not Only is Gh still Richer than S Korea. But Gh is also Richer is Richer than the US. Don't let the opposition fill your head with Lies. They just want to come Steal. Cos Most Ghs are like you. Very little knowledge & Gullible!!

[@jayleezy3681]

There are no free lunches!!!

[@bunyahrollandkwame7633]

In exchange for what

[@IsaacYaw-oy2dy]

The new force

[@ObiYawBlakk]

Nothing is free my brother. They Only tell us what we want to hear. The country is sold already 😢

[@samuelantwi9884]

High population more than 7 million Nigerians living in Ghana now become High population in Ghana

[@franciskiluv6370]

We Re sick as a country called Ghana 🇬🇭...we import 200million usd plus n export 37 million plus..! THINK WHO IS LUSING?

[@papypapyrito7080]

Wow what a great friend SK 😂🎉😢😅😮

[@oceejekwam6829]

That's very generous of South Korea (Thank you South Korea). However, if there's no transparency and accountability then the money will disappear into "oblivion". What mechanisms are in place to ensure that the money is well spent? Ghana's exports to South Korea need to be stepped up, cocoa beans and scrap copper and art pieces (won't "move the needle" to any significant degree). They should examine what they have, and what South Korea wants and try to sell goods that attract a higher price. I would have thought that gold, bauxite, iron ore, manganese, industrial diamonds and lithium would be among the exports to South Korea. We all agree that Ghana can do a lot better and given that Asia is a rapidly expanding market place, new initiatives must be sought out and implemented quickly. It's time for Ghana's government to "step things up".

[@MelvinSelby]

No country should give Ghana cash for anything the best is to send Engineers to build and pay them direct

[@PointMan5000]

If true, then they should have set conditions for transparency, levels of corruption and economic performance benchmarks before forgiving this debt. As it is lesson learnt will be let's continue as before.

[@slygee1902]

Well, kodus to Ghana 🇬🇭 but I think nothing is just free, there must be underground work on it, one love to the both countries

[@allensteele-dadzie5847]

Can it be true!

[@mohammedgadharfi2470]

Is there any chance for Ghanaian to hear that is good news

[@sophiaacorlor6510]

Loans are to be paid back. Ghana took this huge loan to pay it back. What was the loan used for that it can not be honiourably paid back? In my view, this is rather unfortunate and shameful of our country. It is important to honourable keep to agreements signed by working hard as nation developers to pay back loans. This is the only way our country can develop and gather the respect amongst nations.

[@sundayejeh7050]

it's not good to have a president that is older than 50 years in Africa they don't have anything to offer Ghana was richer than both Korea during independence but now it's so painful that they owed South Korea such amount of money congratulations for dept cancelation i oray they won't move stet to borow again

[@hyacinthjarrett8637]

There is no such thing as a free lunch people. People open your eyes.Too much beggings and handouts to Afica.Things must change. The leadership must wake up to meet the demands of the country

[@elliotvulley415]

Ghanaians have reservations about everything and anything concerning help coming from other more prosperous countries. Do you know how S. Korea came to be what it now? It only through education, education and massive investments from especially America. N. Korea became communist and decided to behave like Ghana on gaining independence. You can now see the difference between the two Koreas. If you think you know too much and would not allow yourself to learn how nations are built by the combinations of varied factors but always only thinking about negatives like what you just posted, you'll continue to wallow in poverty as a country. Countries are built on hardwork, diligence, honesty and integrity in addition to knowledge acquired through education. We have so failed in all these since independence. So don't come here blaming anybody. Just start the correction from your own environment and community.

[@larrypoole8468]

Debt forgiveness is a Godly act if sincere. Please, do not be fast to borrow more money. Try to increase trade of equal value commodities.

[@prohdusah]

Debt forgiveness isn't a loan. If you are my customer isn't doesn't help if you aren't doing well lol

[@BlackGeoYoutube]

It is so easy to deceive the vast majority of Africans.

[@elliotvulley415]

Those who make such statements about doom concerning ghana's present conditions don't really know anything about Ghana and how we've trudge on till now.

[@amonstephen6684]

Lazy politicians

[@michaelplacca5649]

We thank South Korea but the leadership of Ghana sucks. A small nation like Ghana and we are in so much debt, why?

[@abdulsadick731]

Ask that question again, why should we owe, when we are the world's largest producer of gold and second producer of cocoa, we have oil, now lithium. They are all going into bank accounts of individuals who does nth for the country. Kuffour took it, mahama took it, bawumia and the rest of the gang are busily enriching themselves and we still see them as saints. Ghanaians are the most weak minded individuals I've ever known

[@zigibeat3689]

Cos reckless dumb people like Mahama and NDC were borrowing at high rate interest without thinking. And many people idiots of their supporters don't even know cos they don't like reading.

[@massponkmasstom]

I wil send massage to the fee world ,don't give them money they share the money to their porket.

[@MelvinSelby]

What did Ghana use the Billions of $dollars for ? and where is the money leaders of Ghana really waist money on unnecessary things look at roads fifty and the gabbages Guntters so full of dirtsand terrible odors is a SHAME to Accra as capitalcity of Ghana .Koforidua is far better and cleaner than the capital Accra

[@massponkmasstom]

South Korea stop given Ghana money our minster share the money in their porket they put in their bank account

[@aboaboyahciciniko7132]

👁👁

[@hotskullgaming3891]

There working for the usa thats why they trying to keep influence in africa but the youths of africa is awake

[@alexasante897]

Check Ghana history after Korea war south Korea was broke and Ghana have to give them loan to survive

[@vincentanderson8435]

What's it's going to cost

[@samuelantwi9884]

Shame to corrupt leaders

[@JosephBoakyeYiadom]

President of Ghana has sold Ghana.

[@franciskabiawu]

Sounds like good news.

[@univeralafrikan]

My friend nothing is free in this world. Trust me Ghana will pay somehow for this forgiveness. African nations receiving aid must STOP begging other nations for money. We must also STOP being naïve to how the international economy works. I hate to be the bearer of reality after what seems to be good news for Ghana.

[@stressfreesasaki6570]

Because you guys have head but don’t have 🧠

[@alexasante897]

​@@univeralafrikan Do you know history between Ghana and South Korea after Korea war Ghana gave South Korea money to survive

[@stressfreesasaki6570]

Useless leaders in Ghana when will you think and help your people

[@adwoaampomah]

A shameful President Akufo Addo

[@asiamahowurani7825]

Please if you give your money to the government they will miss us it, please locate the Ghanaian youth who are doing there own business and give to them

[@kumho1321]

Absolute lies! South Korea is not one of Ghana's bilateral creditors to whom Ghana owes any loans. Ghana doesn't even owe China that much. Stop talking about things you know nothing about!

[@princedjaba4626]

Free yourself from mental slavery and become independent. Ghana is ridiculous

[@abdulsadick731]

I don't owe south Korea ath, so this is irrelevant, south Korea is making a huge mistake forgiven this debt when the money is resting comfortably in corrupt individuals account.