Official Creditors MoU to unlock funds for halted projects – Finance Minister

Dr. Mohammed Amin Adam, Ghana's Finance Minister, has announced government's plan to resume halted projects across the country with funds obtained from a newly signed Memorandum of Understanding (MoU) with the Official Creditor Committee (OCC).

The MoU signals the end of negotiations with creditors, allowing bilateral agreements and disbursements to restart projects, including major roads.

This move is expected to provide financial relief and aid in Ghana's debt restructuring efforts under the Extended Credit Facility (ECF) program.

The MoU is also crucial for securing a $360 million tranche from the IMF, stabilizing the cedi, and boosting economic confidence.