Ghana has officially signed a bilateral agreement with France to restructure a portion of its external debt, in what marks a significant step forward in the country’s broader strategy to restore debt sustainability and economic stability.
The agreement, signed under the auspices of the Paris Club — an informal group of creditor countries — positions France as the first member of the group to formally commit to debt relief for Ghana. The move comes as the West African nation pushes ahead with a comprehensive debt restructuring programme, following years of economic strain exacerbated by the COVID-19 pandemic, inflationary pressures, and currency depreciation.
Ghana’s Ministry of Finance described the agreement as a “milestone…