Finance Minister, Dr. Cassiel Ato Forson, has announced the signing of a US $256 million bilateral debt restructuring agreement with the United Kingdom, marking another significant step in the country’s economic recovery process.
“On behalf of the Republic of Ghana, I signed a Bilateral Debt Restructuring Agreement with the United Kingdom, represented by His Majesty’s Trade Commissioner for Africa, Mr. John Humphrey.
The agreement covers about US $256 million and represents another important step in Ghana’s debt restructuring efforts,” Dr. Forson confirmed.
This is the third bilateral debt restructuring agreement signed by Ghana, following similar deals with France and the Export-Import Bank of China.
Dr. Forson further disclosed that Ghana is collaborating with UK Export Finance (UKEF) to reinstate financing for a number of stalled but critical infrastructure projects. These include:
1. The Bolgatanga–Bawku–Pulimakom Road Project
2. Modernisation of the Komfo Anokye Teaching Hospital (KATH)
3. Phase II of the Obetsebi Lamptey Interchange and Ancillary Works Project
4. Construction of Phase 1 of the Tema–Aflao Road Project
5. Redevelopment and modernisation of the Kumasi Central Market
The signing ceremony in Accra was attended by the UK High Commissioner to Ghana, H.E. Christian Rogg; the Chief Director of the Ministry of Finance, Mr. Patrick Nomo; and other senior officials.
According to the Finance Minister, the milestone “reflects the deepening of our partnership with the United Kingdom” and signals progress in Ghana’s broader debt restructuring programme.
