Ghana Secures €163m Debt Deal With Belgium, Edging Closer to Full Restructuring — Ato Forson

Ghana has inched closer to completing its debt restructuring programme after signing an agreement with Belgium to restructure €163 million owed to the country’s export credit agency, Finance Minister Dr Cassiel Ato Forson has announced.

Describing the deal as a major milestone, the Minister said it strengthens Ghana’s path toward restoring economic confidence and securing long‑term financial stability.

“With this agreement, Ghana moves closer to completing the debt restructuring, restoring confidence and securing a more stable economic future for our people,” he said after the signing.

Dr Ato Forson explained that the agreement will ease pressure on the national budget by reducing the amount of revenue required for debt servicing, freeing up resources for public services and infrastructure.

“For every Ghanaian, it means more of our national resources can be directed towards improving lives rather than servicing unsustainable debt,” he noted.

He stressed that the fiscal space created will allow government to invest more in healthcare, schools, roads and other essential social infrastructure.

The Finance Minister said government is also putting safeguards in place to prevent a return to unsustainable debt levels.

“We want to ensure that the fiscal rules we have instituted today are enshrined in law, so that even if this government is not there, the next government will have to respect them,” he said.

Dr Ato Forson expressed appreciation to the Belgian government for agreeing to restructure the €163 million debt, describing the move as part of the broader progress Ghana has made in addressing its debt challenges.

The agreement adds to Ghana’s ongoing efforts to restructure external debt and restore fiscal stability following the country’s recent debt crisis.