Ghana Signs Fifth Bilateral Debt Restructuring Agreement with Spain
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 the Kingdom of Spain by the Spanish Ambassador to Ghana, H.E. Ángel Lossada Torres-Quevedo.
According to the Finance Ministry, the signing forms part of ongoing efforts by government 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, as Ghana continues to engage its official creditors in line with the parameters agreed under the G20 Common Framework.
Dr. Forson noted that government aims to conclude the remaining restructuring processes by the end of the year, describing the milestone as an important step toward closing a difficult chapter in Ghana’s economic recovery journey.
The Finance Minister reaffirmed government’s commitment to prudent fiscal and debt management, stressing that the country remains determined to ensure long-term sustainability and avoid a recurrence of unsustainable debt levels.
He also expressed gratitude to the Government and people of Spain for their cooperation and support throughout the restructuring process.
On his part, Ambassador Ángel Lossada Torres-Quevedo commended Ghana’s progress in stabilising its economy, adding that Spain is pleased to support the country’s recovery efforts. He described the agreement as the beginning of a new and stronger phase in Spain–Ghana economic relations.
The signing ceremony was witnessed by the Minister for Health, Hon. Kwabena Mintah Akandoh, alongside officials from the Ministries of Finance of both countries.
