Ghana has signed a bilateral debt restructuring agreement with the United Kingdom as part of ongoing negotiations with the External Creditor Committee.
The move is expected to ease financing pressures and unlock support for key government programmes, including “The Big Push.”
The agreement was signed in Accra by Finance Minister, Dr. Cassiel Ato Forson and UK Export Finance, represented by His Majesty’s Trade Commissioner to Africa, John Humphrey, during an official visit.
Dr. Forson said the UK’s participation sends a strong signal to other creditor nations to fast-track their own agreements. The deal, which restructures over US$256 million in debt, will pave the way for the resumption of five major infrastructure projects valued at about GHS 2.8 billion.
These include the Bolgatanga Road, Obetsebi Lamptey Interchange Phase II, Kejetia Market Phase II, the Tema-Aflao Road, and the maternity block of Komfo Anokye Teaching Hospital in Kumasi.
“This marks the third of several bilateral agreements — following those with France and China’s Exim Bank — and brings us closer to restoring debt sustainability,” Dr. Forson said.
John Humphrey reaffirmed the UK’s commitment to Ghana’s development, adding that Britain will continue supporting government initiatives such as the newly launched 24-Hour Economy Policy.
