AfricaAfrica PoliticsNews

Ghana Signs MoU with Official Creditor Committee to Address Debt Challenges

Accra, Ghana – January 29, 2025 – The Government of Ghana has taken a significant step toward resolving its debt crisis by signing a Memorandum of Understanding (MoU) with its Official Creditor Committee (OCC).

A statement from the Ministry of Finance expressed appreciation to all OCC members, particularly China and France, which co-chaired the committee, for their support in Ghana’s economic recovery efforts.

Key Highlights of the MoU

  • The agreement formalizes Ghana’s debt treatment with official creditors.
  • It provides substantial debt service relief during the IMF-supported programme period.
  • The debt relief will allow the government to redirect resources toward economic stability and growth.
  • The agreed terms will now be implemented through bilateral agreements with each OCC member.

Engagement with Commercial Creditors

The government also reaffirmed its commitment to working closely with its creditors to ensure a swift implementation of the agreements. Additionally, Ghana continues negotiations with commercial external creditors to secure restructuring deals that meet the comparability of treatment principle in debt relief efforts.

The MoU marks a major milestone in Ghana’s efforts to restore long-term debt sustainability and strengthen its economic recovery.

WhatsApp Image 2025 01 29 at 10.54.11 241112fe Channel1 News Ghana signs MoU with creditor committee to tackle debt, boost recovery

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button