Eduardo González
The Government of Ghana has signed a bilateral debt restructuring agreement with Spain, as part of its policy to restore economic stability and rebuild investor confidence.
According to ‘The Herald Ghana’, the agreement was signed in mid-October in Accra by Ghanaian Finance Minister Cassiel Ato Forson and Spanish Ambassador to Ghana Ángel Lossada Torres-Quevedo.
This is the fifth such agreement signed by Ghana, following those signed with the Export-Import Bank of China (Exim Bank) and with the governments of France, Finland, and the United Kingdom within the common framework of the G20.
Speaking at the signing, Forson emphasized that the government remains committed to concluding all pending negotiations before the end of the year to put the country’s crisis behind it. “We want to put this difficult chapter of the nation behind us,” declared the minister, who assured that reforms are being implemented within the framework of the IMF-backed program to prevent a return to unsustainable debt levels.
“On behalf of the Government and people of Ghana, I express my deep gratitude to Spain for its cooperation, understanding, and unwavering support throughout this process,” stated Forson. For his part, the Spanish ambassador welcomed the agreement, which marks “the beginning of a new and stronger phase” in economic relations between Spain and Ghana.
Ghana’s bilateral restructuring efforts are a key part of its $3 billion IMF program, which aims to ensure debt relief, stabilize the economy, and strengthen external financing guarantees.
