Government is expected to sign bilateral agreements later today, July 25, with a number of creditor countries under the G-20 Common Framework for debt restructuring.
The move forms part of broader efforts to overhaul the country’s external debt obligations and restore fiscal sustainability.
This follows parliamentary approval of the indicative terms submitted by the Official Creditor Committee (OCC).
During the presentation of the 2025 Mid-Year Budget Review, Finance Minister Dr Cassiel Ato Forson confirmed that Ghana was poised to begin formal engagements with individual countries, starting with France.
“We are ready to sign the agreements with two countries as of tomorrow. Mr Speaker, it is expected that four agreements will be signed by the close of tomorrow. First, we will sign with France, and the second will be with another country yet to be confirmed,” he told Parliament.
Dr Forson also noted that the government had entered into Non-Disclosure Agreements (NDAs) with certain commercial lenders as part of the commercial debt restructuring process.
He reaffirmed the administration’s commitment to restructuring both bilateral and commercial debts under the G-20 framework.
The Finance Minister expressed appreciation to Parliament for swiftly approving the indicative terms of the Memorandum of Understanding (MoU) with the OCC on 24 June 2025, enabling the government to take this next step.
The debt restructuring is a critical component of Ghana’s economic recovery strategy, aimed at restoring investor confidence and securing long-term financial stability.
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