Finance Minister Cassiel Ato Forson has announced that Ghana has secured its 11th bilateral debt restructuring agreement, this time with the Export-Import Bank of India, as part of ongoing efforts to restore debt sustainability.
In a Facebook post, Dr Forson said the agreement forms part of broader measures to stabilise the economy and ease the country’s debt burden following recent financial challenges.
“I recently signed Ghana's 11th bilateral debt restructuring agreement, this time with EXIM India,” he said.
He expressed confidence in Ghana’s economic recovery, indicating that current trends point to gradual improvement.
“We are moving steadily towards a low risk of debt distress, with clear indicators that the worst is behind us,” he stated.
The Finance Minister reaffirmed government’s commitment to honouring all obligations under the restructuring programme while maintaining fiscal discipline.
“Our commitment is firm: to honour all restructured obligations on time and to keep debt sustainability at the core of every financing decision going forward,” he said.
Dr Forson stressed that the government is determined to avoid a return to excessive borrowing, which contributed to the country’s recent economic difficulties.
“Ghana will not return to a path of unsustainable borrowing,” he emphasised.
He also revealed plans to introduce a new Loans Act aimed at strengthening oversight of borrowing and ensuring funds are used efficiently.
“As part of this reset, the government will introduce a new Loans Act to strictly define the use of borrowed funds, ensuring that every loan is tied to high-impact, value-for-money investments,” he explained.
According to him, future borrowing decisions will prioritise projects that deliver measurable benefits to citizens.
“Our guiding principle is simple: whatever we borrow must be worth it and must deliver tangible benefits to the Ghanaian people,” Dr Forson said.
The agreement with EXIM India is expected to support Ghana’s ongoing debt restructuring efforts as authorities work to restore macroeconomic stability and rebuild investor confidence.
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