Ghana has signed a US$256 million debt restructuring deal with UK, marking a new chapter in its efforts to stabilise public finances. The Bilateral Debt Restructuring Agreement, inked in Accra by Finance Minister Dr. Cassiel Ato Forson and UK Trade Commissioner for Africa John Humphrey, is the third such pact under the G20 Common Framework.
Under this deal, Ghana will resume access to financing from UK Export Finance (UKEF) for five key infrastructure projects, including the Bolgatanga–Bawku–Pulimakom road, modernisation of Komfo Anokye Teaching Hospital, Phase I of the Tema–Aflao road, Obetsebi Lamptey Interchange Phase II, and redevelopment of Kumasi Central Market.
Dr. Forson called the agreement both a relief and a rallying point, saying the country hopes never to revert to a similarly distressed debt position. He credited his ministry’s team for navigating a complex negotiation and affirmed Ghana’s commitment to debt sustainability and accelerated development.
John Humphrey described the agreement as a landmark for UK–Ghana relations, stating that it signifies more than just financial terms but a renewed partnership in infrastructure and development.
This agreement follows earlier bilateral pacts the country struck with France and China’s Export-Import Bank as part of its broader debt restructuring agenda under the G20 framework.
Ghana hopes that this fresh agreement will reduce immediate fiscal pressure, restore investor confidence, and provide impetus for stalled projects crucial to economic growth and recovery.
