Ghana has taken a significant step in its economic recovery efforts with the signing of a US$256 million Bilateral Debt Restructuring Agreement with the United Kingdom under the G20 Common Framework.
The agreement—Ghana’s third bilateral deal after similar arrangements with France and the Export-Import Bank of China—was signed in Accra by Finance Minister Dr. Cassiel Ato Forson and the UK’s Trade Commissioner for Africa, Mr. John Humphrey.
Beyond easing Ghana’s debt burden, the deal unlocks UK Export Finance (UKEF) funding for five transformative infrastructure projects:
- Bolgatanga–Bawku–Pulimakom Road Project
- Modernisation of Komfo Anokye Teaching Hospital (KATH)
- Obetsebi Lamptey Interchange and Ancillary Works Phase II
- Phase 1 of the Tema–Aflao Road Project
- Redevelopment and Modernisation of Kumasi Central Market
Dr. Forson hailed the agreement as both a relief and a call to action, reaffirming Ghana’s commitment to restoring debt sustainability and accelerating growth. He praised the Ministry of Finance team for their dedication in securing the breakthrough, adding that it is the nation’s hope “never to return to this point of debt distress.”
Mr. Humphrey described the deal as a landmark moment in UK–Ghana relations, noting that it goes beyond financial restructuring to enable real development. He highlighted that initiatives such as Ghana’s 24-Hour Economy and Big Push agenda are now backed by concrete international support.
Also present at the ceremony were UK High Commissioner to Ghana H.E. Christian Rogg and Ministry of Finance Chief Director Patrick Nom, underscoring the significance of the partnership for Ghana’s economic reset.
