Ghana and Belgium on Thursday signed a debt-restructuring agreement as part of the West African country’s ongoing efforts to ensure debt sustainability.
In a Facebook post, Ghana’s Finance Minister Cassiel Ato Forson said the deal with Belgium is the eighth Ghana has concluded with Official Creditor Committee countries under the external debt restructuring program.
According to the minister, the government is determined to ensure debt sustainability and fiscal discipline and safeguard the country from a repeat of past economic hardships.
“Ghana is recovering and witnessing a significant economic turnaround, while we also put in place stronger systems to ensure we do not return to that point again,” the minister said, reiterating the pledge to execute new reforms and policies to stabilize the economy and boost long-term growth.
Ghana, a major exporter of cocoa, gold and crude oil, faced severe economic turmoil from 2022 to 2023, prompting the previous administration to declare a debt default and seek support from the International Monetary Fund alongside debt restructuring with domestic and external creditors. Enditem
Source: Xinhua
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