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Ghana Secures $256 Million Debt Restructuring Agreement with United Kingdom


 


Ghana's Finance Minister, Dr. Cassiel Ato Forson, has formally signed a $256 million bilateral debt restructuring agreement with the United Kingdom, marking another major milestone in the country’s economic recovery and debt sustainability efforts.

In an official announcement posted on social media, Dr. Forson stated,

“On behalf of the Republic of Ghana, I signed a Bilateral Debt Restructuring Agreement with the United Kingdom, represented by His Majesty’s Trade Commissioner for Africa, Mr. John Humphrey. The agreement covers approximately $256 million and represents another important step in Ghana’s broader debt restructuring programme.”

This agreement follows similar arrangements with France and the Export-Import Bank of China, making it Ghana’s third significant bilateral debt restructuring deal.

As part of the agreement, Ghana is also working closely with UK Export Finance (UKEF) to reactivate funding for several critical but previously stalled infrastructure projects. These include:

  1. Bolgatanga–Bawku–Pulimakom Road Project
  2. Modernisation of Komfo Anokye Teaching Hospital (KATH)
  3. Phase II of the Obetsebi Lamptey Interchange and Ancillary Works Project
  4. Phase I of the Tema–Aflao Road Construction Project
  5. Redevelopment and Modernisation of the Kumasi Central Market

The official signing ceremony took place in Accra and was attended by the UK High Commissioner to Ghana, H.E. Christian Rogg, Chief Director of Ghana’s Ministry of Finance, Mr. Patrick Nomo, and other senior government officials.

Commenting further, Dr. Forson emphasized that the deal signifies a deepening of the longstanding partnership between Ghana and the UK and underscores Ghana's steady progress in navigating its economic recovery roadmap.

Source: MyNewsGh.com

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