Ghana has recently secured a significant $2.8 billion debt relief through formalizing the debt restructuring process with its official creditors. With all participating countries signing the memorandum of understanding, Ghana’s path to recovery and fiscal consolidation has been set. Richmond Frimpong, Advisory Board Chair at FLF Africa, highlighted the importance of this development as it allows the government to redirect debt servicing funds into critical sectors of the economy. The signing of the MOU not only provides breathing space fiscally but also sets the stage for negotiations with commercial external creditors. This move is crucial for Ghana as it aims to achieve long-term debt sustainability.
In addition to the debt…
