The Government of Ghana announced today that it has signed a Memorandum of Understanding (MoU) with its Official Creditor Committee (OCC), marking a significant step towards restoring long-term debt sustainability.
The MoU, signed by all participating creditor countries, formalizes the debt treatment agreed upon with official creditors and provides significant debt service relief during the Fund-supported program period. This will enable Ghana to direct financial resources towards supporting and strengthening its economic recovery.
Dr. Cassiel Ato Baah Forson, Ghana’s Minister for Finance and Economic Planning addressing the media during a press conference in Accra, expressed gratitude to the OCC members, particularly co-chairs China and France, for their commitment to assisting the country in resolving its debt issues. The government is committed to working closely with its official creditors to expedite the signing of bilateral agreements.
“In addition, Ghana continues to engage with commercial external creditors to finalize restructuring agreements that respect the country’s need for debt relief and the comparability of treatment principle ” Mr Forson added.
