Ghana has taken a major step forward in its debt restructuring program. The Memorandum of Understanding (MoU) which was agreed in principle and signed in June 2024 has now witnessed endorsements by the other six remaining Partner Creditor Countries.
As was stated in June last year, this agreement, under the Common Framework for Debt Treatment, grants our nation approximately US$2.8 billion in debt service relief which is included in the US$8.3 billion announced in 2024. This brought us to the completion of about 93% of the restructuring process.
This achievement did not happen overnight. It is the result of prudent fiscal management, strong negotiations, and decisive action—a foundation laid by the previous administration – The NPP Government – and led by the then Finance Minister, Hon Mohammed Amin Adam.
Our efforts ensured Ghana navigated complex international financial discussions and secured favourable terms to put our economy on a more sustainable path.
As we celebrate this progress, I urge the current Government to remain committed to the agreed terms, ensuring debt sustainability and responsible fiscal management. The upcoming negotiations with Commercial Creditors will be crucial, and Ghana must approach them with boldness, transparency, and a firm focus on protecting our national interest.
I also extend my gratitude to our development partners for their unwavering support. Together, through collaboration, prudent economic decisions, and a commitment to fiscal discipline, Ghana will emerge stronger and more resilient.
Let’s stay the course! 🇬🇭
ABENA OSEI-ASARE, Former Deputy Minister for Finance