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Ghana has signed a $256 million bilateral debt restructuring agreement with the United Kingdom, marking another milestone in the country’s ongoing efforts to address its external debt.
The deal, signed by Finance Minister Dr. Ato Forson and witnessed by His Majesty’s Trade Commissioner for Africa, John Humphrey, represents Ghana’s third major bilateral restructuring. Similar agreements have already been concluded with France and the Export-Import Bank of China.
The agreement is expected to pave the way for UK Export Finance to reinstate funding for key infrastructure projects, including the Bolgatanga–Bawku–Pulimakom Road Project, the modernization of the Komfo Anokye Teaching Hospital (KATH), the Obetsebi Lamptey Interchange Phase II, the Tema–Aflao Road Project Phase I, and the redevelopment of Kumasi Central Market.
Dr. Forson welcomed the deal as both “a relief and a call to action,” stressing that Ghana is committed to restoring debt sustainability and accelerating growth. He praised the Ministry of Finance team for their role in achieving what he described as a breakthrough.
John Humphrey, representing the UK, hailed the agreement as a landmark in UK–Ghana relations, emphasizing that it goes beyond financial relief to support tangible infrastructure development. He noted that initiatives such as the 24-Hour Economy and the Big Push are now backed by international collaboration.
Also present at the signing ceremony were the UK High Commissioner to Ghana, H.E. Christian Rogg, and the Chief Director of the Ministry of Finance, Patrick Nomo.
