Ghana has signed a Debt Restructuring Agreement with Germany.

Historic Debt Agreement Between Ghana and Germany

Ghana has taken a significant step in its debt restructuring process by signing a bilateral debt restructuring agreement with Germany. The agreement aims to give new momentum to the country's economic recovery efforts.

Important Statements from Finance Minister Forson

Ghana's Finance Minister Cassiel Ato Forson emphasized during the signing ceremony in Accra that this agreement would contribute to Ghana's financial stability and represent a very important turning point for long-term economic growth. Minister Forson stated, "This step will strengthen the foundations of financial stability and play a critical role for the future of our country."

Germany's Support and Relationship Development

Germany's Ambassador to Accra, Frederik Landshoft, celebrated Ghana's economic developments, reiterating Germany's determination to deepen economic and bilateral relations with the country. Landshoft expressed his belief that the agreement would be beneficial for both countries.

Ghana's Debt Strategy and Previous Agreements

Last year, after restructuring approximately 85% of Ghana's domestic debts, the country temporarily suspended external debt payments at the end of 2022 and entered negotiations to restructure 5.4 billion dollars in bilateral debts. The agreement with Germany is characterized as Ghana's sixth bilateral debt agreement signed within the framework of official creditors.

Previously, Ghana has adopted a strategic approach to debt management by signing similar agreements with China Exim Bank, France, Finland, the United Kingdom, and Spain.