BY: DANIEL ASARE
Finance Minister, Dr. Cassiel Ato Forson has touted the country’s recovery from economic crisis after years of turbulence and applauded France as the first member of the Paris Club to grant Ghana debt relief.
Addressing the media after signing a debt relief worth 87.7 million euros, he revealed that the move marks a significant milestone in the country’s economic recovery efforts following its slide into unsustainable debt levels in the aftermath of the COVID-19 pandemic.
The deal is a key component of Ghana’s broader economic recovery agenda which aims to restore debt sustainability, rebuild investor confidence and lay the foundation for inclusive growth.
Addressing the media at the signing ceremony, Finance Minister Dr. Cassiel Ato Forson expressed his gratitude to France for the benevolent gesture.
Ambassador of France to Ghana, Jules Armand Aniambossou and Paris Club Secretary General, William Roos, who graced the event, also took turns to shed more light on the outcome.
Ghana’s debt restructuring aims to reduce its debt-to-GDP ratio and debt service burden, primarily through agreements with both official and commercial creditors. The process, initiated in 2022, has involved restructuring domestic debt and is now focused on finalizing on finalizing agreements with external creditors.