Ghana has advanced its economic recovery efforts with the signing of a Bilateral Debt Restructuring Agreement with the United Kingdom, covering some US$256 million.
The deal, signed in Accra by Finance Minister Dr. Cassiel Ato Forson and UK Trade Commissioner for Africa, Mr. John Humphrey, is the third bilateral agreement under the G20 Common Framework, after similar arrangements with France and the Export-Import Bank of China.
Beyond restructuring, the agreement paves the way for the reinstatement of financing by UK Export Finance (UKEF) for five major projects.
These include the Bolgatanga–Bawku–Pulimakom Road Project, modernisation of the Komfo Anokye Teaching Hospital, the second phase of the Obetsebi Lamptey Interchange, construction of Phase 1 of the Tema–Aflao Road, and redevelopment of the Kumasi Central Market. Dr. Forson described the signing as both a relief and a wake-up call, stressing Ghana’s resolve to restore debt sustainability and growth.
UK Trade Commissioner Mr. John Humphrey hailed the agreement as a landmark in Ghana–UK relations, saying it goes beyond finance to support real infrastructure transformation. He said the partnership proves that national initiatives such as the 24-Hour Economy and the Big Push are backed by international collaboration. The signing ceremony was attended by UK High Commissioner H.E. Christian Rogg and Chief Director of the Ministry of Finance, Mr. Patrick Nomo.
