Ghana has signed a debt restructuring agreement with Belgium aimed at stabilizing the financial crisis following the difficult period in 2022-2023.
Speaking at the signing ceremony on Thursday, March 5, 2026, the Finance Minister, Dr. Cassiel Ato Forson, highlighted that Ghana had faced a severe financial crisis, allowing the government to declare a debt fault.
The Minister noted that with the country’s economic turnaround and the establishment of stronger systems, the nation is now positioned to reach a point of no return.
“Today, however, the story is changing. Ghana is recovering and witnessing a significant economic turnaround, while we also put in place stronger systems to ensure we do not return to that point again,” he pointed out.
Dr. Forson explained that Ghana is nearing the completion of its external debt restructuring programme, adding that the agreement with Belgium marks another important milestone.
According to him, Belgium is the eighth Official Creditor Committee (OCC) country with which Ghana has concluded a bilateral debt restructuring agreement.
Dr. Forson also expressed gratitude to the Government and people of Belgium for their cooperation and support throughout the restructuring process.
Source: Ernest Kelvin Okanta
