ACCRA (Reuters) – Ghana has signed a memorandum of understanding with its official creditors that formalises a debt restructuring agreed last year, its finance ministry said on Wednesday.
The signing of the document is the latest milestone in the West African gold and cocoa producer’s long-running debt restructuring saga, after it defaulted on most of its external borrowing in December 2022.
Ghana and its Official Creditor Committee reached an agreement in June last year.
All participating creditor countries have now signed the deal, the finance ministry’s statement said, adding that it provided significant debt-service relief over its International Monetary Fund loan programme.
Ghana is still speaking to its commercial external creditors to finalise restructuring agreements with them, the statement also said.
(Reporting by Christian Akorlie; Writing by Anait Miridzhanian; Editing by Alexander Winning and Frances Kerry)
