Ghana Signs $256m Bilateral Debt Restructuring Deal with UK
Ghana has signed a bilateral debt restructuring agreement with the United Kingdom, covering some US$256 million, as part of efforts to restore debt sustainability and reset the economy.
The deal, signed in Accra by the Minister for Finance, Dr. Cassiel Ato Forson, and the UK Trade Commissioner for Africa, Mr. John Humphrey, marks the third such agreement concluded under the G20 Common Framework, following similar pacts with France and the Export-Import Bank of China.
Beyond debt relief, the agreement clears the path for the reinstatement of financing by UK Export Finance (UKEF) for five major infrastructure projects:
The Bolgatanga–Bawku–Pulimakom Road Project
Modernisation of the Komfo Anokye Teaching Hospital (KATH)
Obetsebi Lamptey Interchange and Ancillary Works Project Phase II
Construction of Phase 1 of the Tema–Aflao Road Project
Redevelopment and Modernisation of Kumasi Central Market
Describing the development as both a relief and a call to action, Dr. Forson said it was the nation’s hope never to return to the brink of debt distress.
He commended the dedication of the Finance Ministry team, reiterating government’s resolve to pursue fiscal discipline, restore debt sustainability and accelerate growth.
Mr. Humphrey, for his part, lauded the agreement as a landmark in UK–Ghana relations, stressing that it went beyond financial restructuring to support Ghana’s transformational agenda.
He added that the partnership underscores international confidence in Ghana’s 24-Hour Economy and Big Push initiatives, noting that these are not mere slogans but commitments backed by global collaboration.
