In a strategic move to restore fiscal stability and accelerate economic recovery, the Government of Ghana has signed a bilateral debt restructuring agreement with the Kingdom of Spain. This marks the fifth such agreement under Ghana’s official creditor framework, following similar deals with China Exim Bank, France, Finland, and the United Kingdom.
The agreement was formally signed by Ghana’s Minister for Finance, Dr. Cassiel Ato Forson, and Spain’s Ambassador to Ghana, H.E. Ángel Lossada Torres-Quevedo. The signing ceremony was witnessed by Ghana’s Minister for Health, Hon. Kwabena Mintah Akandoh, along with senior officials from both nations’ finance ministries.
Dr. Forson emphasized the government’s commitment to concluding all remaining restructuring processes by the end of the year, stating, “This agreement is a critical step toward putting this difficult chapter behind us. We remain focused on prudent fiscal and debt management to ensure long-term sustainability.”
Ambassador Lossada praised Ghana’s progress, describing the agreement as “the beginning of a new and stronger phase in Spain–Ghana economic relations.” He commended Ghana’s efforts to stabilize its economy and reaffirmed Spain’s support throughout the restructuring process.
This latest agreement not only alleviates Ghana’s debt burden but also signals growing international confidence in the country’s economic reform agenda. It is expected to enhance bilateral cooperation and open new avenues for trade, investment, and development
