The Government of Ghana has signed a Memorandum of Understanding (MoU) with its Official Creditor Committee (OCC), marking a significant step towards addressing the country’s debt challenges.
The agreement, signed by all participating creditor nations, formalizes Ghana’s debt treatment framework and paves the way for long-term financial sustainability.
Ghana’s Ministry of Finance expressed gratitude to all OCC members, particularly co-chairs China and France, for their commitment to assisting Ghana in resolving its debt crisis.
The MoU provides substantial debt service relief during the Fund-supported program period, allowing Ghana to redirect financial resources toward economic recovery and growth initiatives.
With the MoU in place, Ghana will now proceed with bilateral agreements with each OCC member to implement the agreed terms.
The government reaffirmed its commitment to working closely with official creditors to expedite the process and ensure smooth implementation.
Additionally, Ghana continues to engage with commercial external creditors to finalize restructuring agreements that align with the country’s debt relief needs while adhering to the principle of comparability of treatment.
