Ghana, Germany Sign Bilateral Debt Deal to Boost Economic Recovery

Ghana has signed a bilateral debt agreement with the Federal Republic of Germany, becoming the sixth such deal under the country’s ongoing debt restructuring programme aimed at restoring fiscal stability and driving sustainable economic growth.

Ghana and the Federal Republic of Germany have formalised a bilateral debt agreement as part of Accra’s broader debt restructuring initiative. The agreement marks the sixth of its kind under the programme designed to help Ghana navigate its economic recovery efforts and strengthen financial stability.

Speaking at the signing ceremony, Finance Minister Dr. Cassiel Ato Forson described the agreement as a significant milestone in Ghana’s economic recovery journey. He said the deal demonstrates Ghana’s commitment to implementing prudent fiscal reforms while maintaining strong relationships with development partners.

This agreement with Germany strengthens the foundations of fiscal stability and anchors our long-term economic progress,” Dr. Forson stated. “We are deeply grateful to the Government and people of Germany for their continued partnership and confidence in Ghana’s future.”

German Ambassador to Ghana, Frederik Landshöft, commended the Ghanaian government for the strides made in stabilising the economy. He reaffirmed Germany’s commitment to supporting Ghana’s reform agenda and to deepening bilateral and economic cooperation between the two countries.

The agreement is part of Ghana’s ongoing engagements with its bilateral creditors under the G20 Common Framework, aimed at restoring debt sustainability and positioning the economy for sustained growth.

Written By Bernard Nii Ade Quaye | Rays of Hope Radio