Ghana has marked a pivotal moment in its efforts to restructure its staggering debt, following the signing of the Memorandum of Understanding (MoU) with its Official Creditor Committee (OCC). This milestone, announced by Finance Minister Cassiel Ato Forson, formalizes the debt restructuring agreement initially reached with creditor nations and is expected to provide the country with approximately $2.8 billion in debt service relief.
The agreement, finalized on January 31, 2025, is part of the broader Common Framework for Debt Treatment, which aims to stabilize Ghana’s finances after the nation defaulted on various external debts back in 2022. Forson expressed gratitude to all 25 participating creditor countries for…
