Ghana has signed its 11th bilateral debt restructuring agreement as part of ongoing efforts to stabilise the economy and restore debt sustainability.
In a statement, Finance Minister Dr Cassiel Ato Forson announced that the latest agreement was reached with EXIM India, marking another milestone in the country’s debt restructuring programme.
He noted that Ghana is steadily moving towards a lower risk of debt distress, pointing to clear signs that the most challenging phase of the crisis has passed.
The Minister emphasised government’s commitment to honouring all restructured obligations promptly while ensuring that debt sustainability remains central to future financial decisions.
Ato Forson stressed that the country would not return to a cycle of unsustainable borrowing, highlighting a renewed focus on fiscal discipline and prudent economic management.
As part of this policy shift, government plans to introduce a new Loans Act aimed at tightening controls on borrowing.
The proposed legislation will define how borrowed funds are utilised, ensuring they are channelled into high-impact, value-for-money projects that deliver tangible benefits to citizens.
He underscored that every loan contracted going forward must justify its value and contribute meaningfully to national development.
