Ghana has taken another bold step in its economic recovery and resetting journey with the signing of a Bilateral Debt Restructuring Agreement with the United Kingdom, covering some US$256 million.
The agreement, signed in Accra by the Minister for Finance, Dr. Cassiel Ato Forson, and Trade Commissioner for Africa, Mr. John Humphrey, is the third bilateral agreement concluded by Ghana under the G20 Common Framework, following similar deals with France and the Export-Import Bank of China.
Beyond restructuring, the deal unlocks the reinstatement of financing by UK Export Finance (UKEF) for five transformative infrastructure projects:
•Bolgatanga–Bawku–Pulimakom Road Project
•Modernisation of the Komfo Anokye Teaching Hospital (KATH)
•Obetsebi Lamptey Interchange and Ancillary Works Project Phase II
•Construction of Phase 1 of the Tema–Aflao Road Project
•Redevelopment and Modernisation of Kumasi Central Market
Dr. Forson described the signing as both a relief and a call to action, noting that it is the nation’s hope never to return to this point of debt distress.
He praised the dedication of the Ministry of Finance team for supporting him in delivering this breakthrough, while reaffirming Ghana’s commitment to restore debt sustainability and accelerate growth.
On his part, Mr. John Humphrey hailed the deal as a landmark moment in UK–Ghana relations, stressing that it is more than just a financial agreement.
He said the partnership is making room for significant infrastructural development in Ghana, proving that initiatives such as the 24-Hour Economy and the Big Push are not mere slogans but real commitments backed by international collaboration.
