Ghana has finalized its eighth debt restructuring agreement with Official Creditor Committee (OCC) nations, signing a deal with the Kingdom of Belgium that spotlights the country’s advancing external debt programme.
Finance Minister Dr. Cassiel Ato Forson, who signed the agreement on behalf of the government, highlighted Belgium’s role in supporting Ghana’s fiscal stabilization efforts. “On behalf of the Government and people of Ghana,” he expressed “sincere gratitude” to the Belgian government and H.E. Carole van Eyll, Belgium’s Ambassador to Ghana, for their “support and continued partnership.”
The pact arrives as Ghana navigates recovery from the “severe financial crisis” of 2022–2023, which prompted a debt default declaration by the prior administration. Today, he points to a “significant economic turnaround” driven by recovery measures and “stronger systems” to avert future vulnerabilities.
This Belgium agreement marks a key milestone in Ghana’s OCC engagements, building on prior pacts to restructure external obligations under the IMF-supported programme. It aligns with broader efforts to restore creditor confidence and bolster medium-term debt sustainability.
Ato Forson emphasized the shifting narrative, noting that “the story is changing” as Ghana implements reforms for enduring fiscal resilience.
The Ministry of Finance indicated accelerated progress on outstanding bilateral talks, framing these restructurings as critical enablers of macroeconomic stability and private sector revival.
