Ghana Signs Debt Restructuring Agreement with Belgium
The Government of Ghana has signed a debt restructuring agreement with Belgium as part of its ongoing efforts to stabilize the country’s public finances following the severe economic crisis of 2022–2023.
Highlighting on the significance of the agreement, the Minister for Finance, Dr. Cassiel Ato Forson, having recalled the difficult period Ghana endured during the crisis, explained that Ghana is nearing the completion of its external debt restructuring programme, adding that the agreement with Belgium marks another important milestone.
“Ghana went through a very difficult period in 2022–2023. It was a financial crisis and the government of the day had to declare a default,” the minister said. Today we are recovering and seeing a significant turnaround, and we are putting systems in place to ensure we do not return to that situation again.”
Dr. Forson also expressed gratitude to the Government and people of Belgium for their cooperation and support throughout the restructuring process.
Also passing her remarks on the agreement ,Belgium’s Ambassador to Ghana, Carole van Eyll, reaffirmed her country’s commitment to supporting Ghana as it navigates the aftermath of the economic crisis.
She stated that Belgium was pleased to have concluded the restructuring agreement and commended Ghana’s efforts to restore macroeconomic stability.
“We are happy to continue supporting Ghana, and we are pleased that this restructuring has been concluded,” Ambassador van Eyll said.
She added that Belgium looks forward to strengthening cooperation with Ghana in the years ahead as the country continues on its path of economic recovery.
The debt restructuring agreement with Belgium will see Belgium being the eighth Official Creditor Committee (OCC) country with which Ghana has concluded a bilateral debt restructuring agreement.
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