The Government of Ghana has signed a Bilateral Debt Restructuring Agreement with the Kingdom of Spain, marking another key milestone in the country’s ongoing debt restructuring programme.
The agreement was signed on behalf of Ghana by the Minister for Finance, Ato Forson, while Spain was represented by its Ambassador to Ghana, H.E. Ángel Lossada Torres-Quevedo.
According to the Finance Minister, the deal with Spain is the fifth bilateral restructuring agreement concluded by Ghana, following similar arrangements with France, Finland, the United Kingdom, and the China EXIM Bank.
“This signing marks another important milestone in Ghana’s debt restructuring journey,” Ato Forson said in a statement posted on his official Facebook page.
“It is our expectation that by the end of this year, we will complete the process and close this challenging chapter in our economic management history.”
He noted that Ghana has drawn valuable lessons from the debt crisis and remains committed to maintaining sound fiscal discipline to prevent a recurrence of unsustainable debt levels.
“As a country, we have learnt valuable lessons from this experience. We are determined to maintain fiscal discipline and never again allow ourselves to reach such unsustainable levels of debt,” the Finance Minister emphasized.
He expressed confidence that ongoing fiscal and economic reforms will safeguard Ghana’s economic recovery and strengthen the country’s long-term resilience.
He also extended Ghana’s appreciation to the Government of Spain for its “cooperation, understanding, and unwavering support” throughout the debt restructuring process.
The bilateral debt restructuring forms part of Ghana’s broader strategy under the International Monetary Fund (IMF)-supported programme, aimed at restoring macroeconomic stability and ensuring debt sustainability.
Source :www.kumasimail.com
