Ghana and Spain Sign Their Fifth Bilateral Debt Restructuring Agreement

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The sixth bilateral debt restructuring deal reached under Ghana’s formal creditor framework was signed by the government of Ghana and the Kingdom of Spain.

Dr Cassiel Ato Forson, the Finance Minister of the Republic of Ghana, and H.E. Ángel Lossada Torres-Quevedo, the Spanish Ambassador to Ghana, signed the agreement on behalf of Spain and Ghana, respectively.

The signing is a component of Ghana’s continuous endeavours to build the basis for economic recovery and restore the sustainability of its debt.

It comes after previous bilateral agreements with the United Kingdom, France, Finland, and China Exim Bank.

The Finance Minister stated that in order to move the country past this challenging period, the administration hopes to complete the remaining restructuring procedures by the end of the year.

Ghana is committed to ensuring long-term sustainability and preventing a return of unsustainable debt levels, the Minister said, reinforcing the government’s commitment to responsible fiscal and debt management.

Dr Forson thanked the Spanish government and people for their assistance and collaboration during the reorganisation process.

H.E. Ángel Lossada Torres-Quevedo, the Spanish ambassador to Ghana, expressed his satisfaction with the country’s debt restructuring progress and praised the government’s attempts to stabilise the economy.

According to him, the agreement marks the start of a new and more robust era in the economic ties between Spain and Ghana.

Hon. Kwabena Mintah Akandoh, the Minister of Health, and representatives from the Ministries of Finance in Ghana and Spain witnessed the signing of this agreement.

Source: newsthemegh.com