Ghana Signs $256m Debt Restructuring Agreement with UK

Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has signed a Bilateral Debt Restructuring Agreement with the United Kingdom, represented by His Majesty’s Trade Commissioner for Africa, Mr. John Humphrey. The agreement, which covers about US$256 million, marks the third of its kind for Ghana following earlier deals with France and the Export-Import Bank of China. According to Dr. Forson, this is another crucial step in Ghana’s ongoing debt restructuring process aimed at stabilizing the economy and regaining investor confidence.

In his announcement on X, the Minister revealed that discussions are underway with UK Export Finance (UKEF) to reinstate funding for key national infrastructure projects. These include the Bolgatanga–Bawku–Pulimakom Road, the modernization of the Komfo Anokye Teaching Hospital (KATH), the Obetsebi Lamptey Interchange Phase II, the Tema–Aflao Road Phase I, and the redevelopment of Kumasi Central Market.

He noted that the signing ceremony was attended by the UK High Commissioner to Ghana, H.E. Christian Rogg, the Chief Director of the Finance Ministry, Mr. Patrick Nomo, and other senior officials—reflecting the strengthening of Ghana-UK economic cooperation.

Beyond the UK deal, Dr. Forson also welcomed the President of the Arab Bank for Economic Development in Africa (BADEA), H.E. Abdullah KH ALMUSAIBEEH, to the Ministry of Finance. He commended BADEA’s support for Ghana, particularly in the social sector, and disclosed that government has begun feasibility studies for a new Accra–Kumasi motorway to be completed within two and a half years.

The Minister emphasized that Ghana’s debt sustainability has improved, and future borrowing will be directed towards transformative projects that drive real sector growth.