The Government of Ghana has announced the successful signing of a Memorandum of Understanding (MoU) with its Official Creditor Committee (OCC).
This significant step, marks the formalization of debt treatment agreed upon with participating creditors, aimed at resolving Ghana’s debt issues.
The Country has extended its heartfelt gratitude to all OCC members, with special recognition to the committee’s co-chairs, China and France, for their unwavering commitment to assisting Ghana.
The MoU signifies a crucial step towards achieving long-term debt sustainability and provides significant debt service relief during the Fund-supported program period.
“The signing of the MoU allows us to redirect financial resources towards supporting and strengthening our economic recovery”.
This agreement is expected to alleviate financial pressure, enabling Ghana to focus on economic reforms and recovery efforts.
With the MoU now signed, bilateral agreements with each official creditor will be expedited to implement the agreed terms.
Ghana also continues to engage in good faith with all commercial external creditors, striving to finalize restructuring agreements that respect the need for debt relief and the comparability of treatment principle.