Ghana signs 5th bilateral debt restructuring agreement
The government has signed a bilateral debt restructuring agreement with Spain, marking the fifth such agreement concluded under the country’s official creditor framework.
The Minister of Finance, Dr Cassiel Ato Forson, signed the agreement on behalf of the country while the Spanish Ambassador to Ghana, Angel Lossada Torres-Quevedo, signed on behalf of Spain.
The signing forms part of Ghana’s ongoing efforts to restore debt sustainability and strengthen the foundations for economic recovery.
It follows earlier bilateral agreements concluded with China Exim Bank, France, Finland and the United Kingdom.
Dr Cassiel Ato Forson (right) and Angel Lossada Torres-Quevedo, Spanish Ambassador to Ghana, exchanging the signed documents
The government aimed to conclude the remaining restructuring processes by the end of the year to put the difficult chapter behind the nation, the Finance Minister stated.
Dr Forson reaffirmed the government’s commitment to prudent fiscal and debt management, stating that Ghana was determined to ensure long-term sustainability and avoid a recurrence of unsustainable debt levels.
He expressed gratitude to the government and people of Spain for their cooperation and support throughout the restructuring process.
For his part, the Spanish Ambassador to Ghana said Spain was pleased with the progress of Ghana’s debt restructuring and commended the government’s efforts to stabilise the economy.
Mr Torres-Quevedo described the agreement as the beginning of a new and stronger phase in the Spain-Ghana economic relations.
The signing of this agreement was witnessed by the Minister of Health, Kwabena Mintah Akandoh, and officials from the Ministries of Finance of Ghana and Spain.
