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Ghana’s Finance Minister, Cassiel Ato Forson, has announced the signing of the country’s 11th bilateral debt restructuring agreement, this time with the Export-Import Bank of India, as part of ongoing efforts to restore debt sustainability.
In a Facebook update, Dr. Forson explained that the agreement is a key step in stabilising the economy and reducing Ghana’s debt burden following recent financial challenges.
He expressed confidence in the country’s recovery, noting that economic indicators point to gradual improvement and suggest Ghana is moving away from high debt distress.
The Finance Minister reiterated the government’s commitment to honouring all restructured debt obligations promptly while maintaining strict fiscal discipline.
He also emphasized that Ghana is determined to avoid a return to excessive borrowing, which contributed to previous economic difficulties.
As part of broader reforms, Dr. Forson revealed plans to introduce a new Loans Act to strengthen oversight on borrowing and ensure funds are directed toward impactful and value-driven projects.
According to him, future borrowing decisions will be guided by a clear principle: all loans must deliver measurable benefits to the Ghanaian people.
The agreement with EXIM India is expected to further support Ghana’s debt restructuring programme, helping to restore macroeconomic stability and rebuild investor confidence.
Source: citinews
