Ghana signs 11th bilateral debt restructuring agreement with EXIM India to boost debt sustainability

Ghana has signed its 11th bilateral debt restructuring agreement, this time with the Export-Import Bank of India, as government intensifies efforts to restore debt sustainability and reduce the country’s exposure to debt distress.

Minister for Finance, Dr. Cassiel Ato Forson, disclosed that the latest agreement forms part of ongoing measures to stabilise the economy and place Ghana on a path toward long-term financial recovery.

According to the Finance Minister, Ghana is steadily moving towards a low risk of debt distress, with clear indicators suggesting that the most difficult phase of the country’s debt challenges is behind it.

READ ALSO: MP Henry Quartey laments how he was ‘sacked like a goat’ at Newtown school building collapse site

He stressed that government remains committed to honouring all restructured debt obligations promptly, while ensuring that debt sustainability remains central to every financing decision.

He stated,

Dr. Cassiel Forson further assured that Ghana will not return to a path of unsustainable borrowing, noting that government is introducing new safeguards to ensure responsible debt management.

As part of these reforms, government plans to introduce a new Loans Act aimed at strictly regulating the use of borrowed funds. The proposed legislation will ensure that all future loans are tied to high-impact projects that deliver measurable value to the country.

READ ALSO: SIMMS SHS student stuns peers by lifting 2 desks with his teeth (Video)

He explained that the guiding principle behind the reforms is to ensure that every loan contracted provides tangible benefits to the Ghanaian people and contributes meaningfully to national development.

The signing of the agreement with EXIM India marks another milestone in Ghana’s ongoing debt restructuring programme, which seeks to restore investor confidence and strengthen the country’s fiscal stability.