Ghana has signed a bilateral debt restructuring agreement with Belgium as part of efforts to restore the country’s public finances after the economic crisis that struck between 2022 and 2023.
The agreement was signed in Accra on Friday, with officials describing it as another step in Ghana’s broader external debt restructuring programme.
Speaking at the ceremony, Finance Minister Dr Cassiel Ato Forson said Ghana was gradually recovering from the severe financial difficulties that forced the government at the time to declare a debt default.
“Ghana went through a very difficult period in 2022–2023. It was a financial crisis and the government of the day had to declare a default,” he said.
Dr Forson said reforms and fiscal consolidation measures introduced in recent months were beginning to show results, adding that the government was putting systems in place to prevent a repeat of the crisis.
He noted that Ghana was close to completing its external debt restructuring process.
According to him, Belgium is the eighth member of the Official Creditor Committee (OCC) to conclude a bilateral restructuring agreement with Ghana.
The finance minister also thanked the Belgian government for its cooperation and support during the negotiations.
Belgium’s ambassador to Ghana, Carole van Eyll, said her country was pleased to finalise the agreement and reaffirmed its commitment to supporting Ghana’s economic recovery.
“We are happy to continue supporting Ghana, and we are pleased that this restructuring has been concluded,” she said.
She added that Belgium looked forward to strengthening cooperation with Ghana as the country continues efforts to stabilise its economy.
Source :www.kumasimail.com
