Ghana is set to sign crucial bilateral debt restructuring agreements today, July 25, with multiple creditor nations under the G-20 Common Framework. The initiative is part of broader efforts to restore fiscal stability and revamp external debt obligations.
Finance Minister Dr. Cassiel Ato Forson confirmed the development during his presentation of the 2025 Mid-Year Budget Review, revealing that the agreements are backed by parliamentary approval of indicative terms submitted by the Official Creditor Committee (OCC).
Dr. Forson disclosed that Ghana will first sign with France, with three other countries expected to follow shortly. “We are ready to sign the agreements with two countries as of tomorrow… the first with France and the second with another country yet to be confirmed,” he told Parliament.
He further revealed that the government has entered into Non-Disclosure Agreements (NDAs) with some commercial lenders as negotiations for commercial debt restructuring proceed under the same G-20 umbrella.
According to the Minister, the move follows Parliament’s swift approval on June 24, 2025, of the Memorandum of Understanding with the OCC, paving the way for formal engagements.
The debt restructuring process is seen as a cornerstone of Ghana’s economic recovery program, aiming to boost investor confidence, restructure external debt, and secure long-term financial sustainability.
