• Ghana signs sixth bilateral debt deal, latest with Germany under IMF reforms

• Agreement supports economic recovery, cuts debt-to-GDP to 44.9% by July 2025

• Follows UK deal in September covering $256 million and key infrastructure projects
  

Ghana’s Ministry of Finance said Monday it signed a bilateral debt-restructuring agreement with Germany, the sixth such deal under the country’s debt-restructuring program.

Finance Minister Cassiel Ato Forson called the agreement a significant milestone in Ghana’s economic recovery, saying it would help stabilize public finances and support long-term growth.

Germany’s Ambassador to Ghana, Frederik Landshöft, praised the country’s progress in restoring stability and said Berlin remained committed to closer economic cooperation.

Part of IMF-Backed Reform Effort

Accra has implemented IMF-supported reforms since 2023 to stabilize the economy after its partial default in 2022. As part of that effort, Ghana reached a deal with the Official Creditor Committee (OCC) in January 2025 to restructure its external debt.

In September 2025, Ghana signed a similar bilateral agreement with the United Kingdom covering $256 million in debt. The deal also reopened UK Export Finance (UKEF) support for five major infrastructure projects.

The latest agreement follows a September report by the central bank showing that Ghana’s debt-to-GDP ratio had fallen sharply, from 61.8% in December 2024 to 44.9% by the end of July 2025.

Ingrid Haffiny