Government secures landmark debt agreement with Official Creditors Committee

The Government of Ghana has reached a significant milestone in its debt restructuring, formalizing an agreement with its Official Creditor Committee (OCC), co-chaired by China and France.

This Memorandum of Understanding (MoU) solidifies the January 2024 debt treatment agreement, marking a key step towards long-term debt sustainability.

Finance Minister Dr. Mohammed Amin Adam highlighted that the unchanged financial terms will provide substantial debt service relief, allowing funds to be redirected to critical sectors like infrastructure, healthcare, and education.

This agreement is expected to facilitate the IMF’s approval of the next financing tranche and attract further assistance from development partners.