The Minister for Finance and Economic Planning, Dr. Cassiel Ato Forson, has announced that Ghana has signed a debt restructuring agreement with the Kingdom of Belgium as part of the country’s ongoing efforts to restore fiscal stability following the 2022 sovereign debt crisis.
In a statement posted on his official Facebook page, Dr. Forson disclosed that he recently signed the agreement on behalf of the Government of Ghana.
According to him, the agreement represents the eighth bilateral deal Ghana has concluded with members of the Official Creditor Committee (OCC) under the country’s external debt restructuring programme.
Ghana experienced a severe financial crisis between 2022 and 2023, which forced the government at the time to declare a sovereign debt default amid mounting debt servicing pressures and worsening macroeconomic conditions.
However, the Finance Minister indicated that the country’s economic outlook is gradually improving.
“Today, the story is changing. Ghana is recovering and witnessing a significant economic turnaround, while we are also putting in place stronger systems to ensure that we do not return to that point again,” Dr. Forson stated.
He expressed appreciation to the Government of Belgium for its cooperation and continued partnership with Ghana during the restructuring process.
“On behalf of the Government and people of Ghana, I extend my sincere gratitude to the Government of Belgium and to H.E. Carole van Eyll, the Ambassador of Belgium to Ghana, for their support and continued partnership with Ghana,” he added.
Ghana has been negotiating with bilateral creditors under the Official Creditor Committee framework as part of a broader debt restructuring programme aimed at restoring debt sustainability and stabilising the economy.
For more news, join The Chronicle Newspaper channel on WhatsApp: https://whatsapp.com/channel/0029VbBSs55E50UqNPvSOm2z
