Ghana has signed its 11th bilateral debt restructuring agreement, with India’s EXIM Bank, as government intensifies efforts to stabilise the country’s finances and reduce the risk of debt distress.
Announcing the development in a social media post, Finance Minister Cassiel Ato Forson said the agreement marks steady progress toward restoring debt sustainability, with “clear indicators that the worst is behind us.”
The latest deal forms part of Ghana’s broader restructuring programme aimed at easing pressure on public finances following years of heavy borrowing and economic strain.
Authorities say the agreements reached so far are helping to put the country on a more stable fiscal path.
Dr Forson emphasised that government remains committed to honouring all restructured obligations on time while ensuring that future borrowing decisions prioritise sustainability and value for money.
He added that Ghana would not return to what he described as a cycle of unsustainable borrowing, signalling a shift in policy direction.
As part of the reforms, government is expected to introduce a new Loans Act to more tightly regulate how borrowed funds are used.
The proposed legislation will ensure that all loans are tied to high-impact projects capable of delivering tangible benefits to citizens.
The finance minister said the guiding principle going forward would be to ensure that every loan contracted delivers measurable value to the Ghanaian people, reinforcing accountability in public borrowing.
