• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Official Creditors agree to sign MoU on Ghana’s external debt restructuring programme

1 year ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
148
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Official Creditors agree to sign MoU on Ghana’s external debt restructuring programme

The Government of Ghana has reached a significant milestone in its debt restructuring efforts, formalizing a Memorandum of Understanding (MoU) with its Official Creditor Committee (OCC) concerning the debt treatment agreed upon in January 2024.

The OCC, co-chaired by China and France, played a crucial role in achieving this milestone.

The MoU formalizes the agreement in principle reached with official creditors in January, marking a vital step toward restoring Ghana’s long-term debt sustainability.

“The financial terms of the agreement remain unchanged, providing significant debt service relief during the Fund-supported program period,” stated Finance Minister Dr. Mohammed Amin Adam.

This relief will allow financial resources to be redirected towards critical areas such as infrastructure, healthcare, and education.

The formalization of the OCC agreement is expected to pave the way for the approval by the IMF Executive Board of the second review of the Fund-supported Post-COVID-19 Programme for Economic Growth (PC-PEG).

RelatedPosts

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

This approval will facilitate the disbursement of the next tranche of IMF financing, amounting to US$360 million. Additionally, the IMF Board’s approval is anticipated to trigger more financial assistance from development partners, particularly the World Bank.

The agreement will also bolster ongoing discussions with private creditors, with whom Ghana is committed to finding a comparable agreement as early as possible.

“Each official creditor will now follow its internal procedures to sign the MoU. Once signed, the agreed terms will be implemented through bilateral agreements with each OCC member. We call upon our official creditors to fast-track their internal processes towards the signing of the bilateral agreements,” urged Dr. Adam.

Ghana continues to engage in good faith with all commercial external creditors, striving to finalize restructuring agreements that respect Ghana’s need for debt relief and the comparability of treatment principle. The country reiterates its firm commitment to remain in arrears with its external commercial creditors until agreements compatible with the comparability of treatment principle are reached.

Dr. Adam expressed his gratitude to the OCC members, particularly the committee’s co-chairs, China and France, for their unwavering support.

“This landmark agreement marks an extraordinary milestone in Ghana’s debt restructuring journey and will further strengthen our ambitious reform agenda with the strong support of our development partners,” he noted.

 

Tags: External debt restructuringExternal Debt Restructuring: Ghana reaches agreement on MoU with Official CreditorsghanaMoUOfficial creditorsOfficial Creditors agree to sign MoU on Ghana's external debt restructuring programme
No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.