Finance Minister Dr. Mohammed Amin Adam has announced that Ghana has successfully completed its debt restructuring programme with official creditors, restructuring $5.1 billion in debt and saving the country $2 billion.
Speaking at a UK Town Hall meeting, Dr. Amin Adam revealed that the government has also concluded negotiations with Eurobond holders, restructuring $13.1 billion in debt and saving an additional $6 billion.
The debt restructuring programme is part of Ghana’s agreement with the International Monetary Fund (IMF) to reduce its debt to 55% of GDP by 2028. The country has made significant progress, with its economy expanding 2.9% in 2023, exceeding IMF expectations.
The government has also announced plans to provide a second bailout of ¢1.5 billion to individuals affected by the debt restructuring programme, following an initial bailout earlier this year.
