Ghana has signed a $256 million debt restructuring agreement with the United Kingdom. The agreement signed by Finance Minister Dr. Cassiel Ato Forson on behalf of the Republic of Ghana UK’s Trade Commissioner for Africa, John Humphrey on behalf of the United Kingdom represents another important step in Ghana’s debt restructuring efforts.
In a post on social media, Minister for Finance Dr. Cassiel Ato Forson disclosed the agreement marks the third bilateral debt restructuring agreement signed by Ghana, following similar agreements with France and the Export-Import Bank of China.
Dr. Forson further revealed Ghana is working with the UK Export Finance (UKEF) to reinstate financing for a number projects stalled in the last few years as a result of the debt restructuring programme.
The projects are:
1. Bolgatanga–Bawku–Pulimakom Road Project
2. Modernisation of the Komfo Anokye Teaching Hospital (KATH)
3. Obetsebi Lamptey Interchange and Ancillary Works Project Phase II
4. Construction of Phase 1 of the Tema–Aflao Road Project
5. Redevelopment and Modernisation of Kumasi Central Market
Also present at the signing ceremony were the UK High Commissioner to Ghana, H.E. Christian Rogg; the Chief Director of the Ministry of Finance, Mr. Patrick Nomo; and other officials.
Dr. Forson lauded the partnership arguing “this milestone reflects the deepening of our partnership with the United Kingdom.”
