The Government of Ghana has signed a Bilateral Debt Restructuring Agreement with the Kingdom of Spain, marking the fifth such agreement concluded under the country’s official creditor framework.
The agreement was signed on behalf of the Republic of Ghana by the Minister for Finance, Dr Cassiel Ato Forson, and on behalf of Spain by the Spanish Ambassador to Ghana, H.E. Ángel Lossada Torres-Quevedo.
The signing forms part of Ghana’s ongoing efforts to restore debt sustainability and strengthen the foundations for economic recovery.
It follows earlier bilateral agreements concluded with China Exim Bank, France, Finland, and the United Kingdom.
The finance minister noted that the government aims to conclude the remaining restructuring processes by the end of the year to put this difficult chapter behind the nation.
The minister reaffirmed the government’s commitment to prudent fiscal and debt management, noting that Ghana is determined to ensure long-term sustainability and avoid a recurrence of unsustainable debt levels.
Dr Forson expressed gratitude to the government and people of Spain for their cooperation and support throughout the restructuring process.
For his part, the Spanish Ambassador to Ghana, H.E. Ángel Lossada Torres-Quevedo, said Spain is pleased with the progress of Ghana’s debt restructuring and commended the government’s efforts to stabilise the economy.
He described the agreement as the beginning of a new and stronger phase in Spain–Ghana economic relations.
The signing of this agreement was witnessed by the minister for health, Kwabena Mintah Akandoh, and officials from the Ministries of Finance in both Ghana and Spain.
Source: Joy Business