Ghana Signs 11th Bilateral Debt Restructuring Agreement

Ghana has entered a bilateral agreement with EXIM India, the Minister for Finance, Dr Cassiel Ato Forson, has announced.

This agreement is the 11th bilateral agreement reached and signed so far by the government.

In a Facebook post, he stated that the country was moving steadily towards a low risk of debt distress, with clear indicators that the worst is behind.

“Our commitment is firm: to honour all restructured obligations on time and to keep debt sustainability at the core of every financing decision going forward,” he noted.

He promised that the country would not return to a path of unsustainable borrowing as he announced plans to introduce a new Loans Act.

This act, he said, would define the use of borrowed funds, ensuring that every loan is tied to high-impact, value-for-money investments.

“Our guiding principle is simple: whatever we borrow must be worth it and must deliver tangible benefits to the Ghanaian people.”

Story by Hajara Fuseini

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