Ghana has officially signed a memorandum of understanding (MoU) with its official creditors, finalizing a debt restructuring agreement reached in June last year.
This milestone marks a significant step in Ghana’s ongoing debt restructuring efforts following its default on most external borrowings in December 2022.
The finance ministry confirmed that all participating creditor countries have now signed the agreement, providing substantial debt-service relief under Ghana’s International Monetary Fund (IMF) loan program.
Despite this progress, Ghana is still in discussions with its commercial external creditors to finalize restructuring terms.