\n The agreement forms part of a wider restructuring programme Ghana has been negotiating with external creditors since the crisis triggered soaring inflation, a collapsing currency and rising debt repayments that strained public finances.\n <\/p>\n
\n Speaking at the signing ceremony, Finance Minister Dr Cassiel Ato Forson recalled how the crisis pushed the country into one of the most difficult economic periods in its recent history.\n <\/p>\n
\n \u201cGhana went through a very difficult period in 2022\u20132023. It was a financial crisis and the government of the day had to declare a default,\u201d the minister said. \u201cToday we are recovering and seeing a significant turnaround, and we are putting systems in place to ensure we do not return to that situation again.\u201d\n <\/p>\n
<\/p>\n
\n Ghana defaulted on most of its external debt in late 2022 as the government struggled to service mounting obligations. The move was part of a broader effort to restructure its debt and restore stability to the economy while securing support from international lenders.\n <\/p>\n
\n Dr Forson said the country was now close to completing the restructuring of its external debt and described the agreement with Belgium as another important step in that process.\n <\/p>\n
\n According to him, Belgium is the eighth member of the Official Creditor Committee (OCC) with which Ghana has finalised a bilateral restructuring deal.\n <\/p>\n
\n He thanked the Belgian government and its citizens for their cooperation and support during the negotiations.\n <\/p>\n
\n Belgium\u2019s Ambassador to Ghana, Carole van Eyll, said her country remained committed to supporting Ghana as it works to recover from the crisis.\n <\/p>\n
\n \u201cWe are happy to continue supporting Ghana, and we are pleased that this restructuring has been concluded,\u201d Ambassador van Eyll said.\n <\/p>\n
\n She added that Belgium hopes to deepen cooperation with Ghana in the coming years as the country continues efforts to restore economic stability and rebuild growth.\n <\/p>\n","protected":false},"excerpt":{"rendered":"The agreement forms part of a wider restructuring programme Ghana has been negotiating with external creditors since the…\n","protected":false},"author":2,"featured_media":315046,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,111,139,69],"class_list":["post-315045","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/315045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=315045"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/315045\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/315046"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=315045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=315045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=315045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}