All Participating Creditor Countries have signed a Memorandum of Understanding (MoU) with the Ghanaian government and its Official Creditor Committee (OCC).
China and France, the co-chairs of the committee, demonstrated an unwavering commitment to helping Ghana resolve its debt problems.
An important step towards Ghana’s restoration of long-term debt sustainability is the signing of the Memorandum of Understanding (MoU), which formalizes the debt treatment agreed upon with Official Creditors.
Significant debt service relief is provided by the agreement during the Fund-supported program period, freeing up funds to support and bolster the economic recovery.
Ghana’s Total Debt As At Now, And President Mahama’s Approach
Now that the Memorandum of Understanding has been signed, bilateral agreements with each OCC member will be used to carry out the agreed terms. Ghana is dedicated to accelerating the signing of bilateral agreements by collaborating closely with its Official Creditors.
In an effort to finalize restructuring agreements that honor Ghana’s need for debt relief and the comparability of treatment principle, the government is still in contact with all commercial external creditors.
