The Ghanaian government said in a statement on Thursday that it had made significant progress in the discussions with its remaining creditors in the debt restructuring program.
The statement said the progress in negotiations, in line with Ghana’s commitments to the official creditors under the G20 Common Framework, is consistent with the principle of Comparability of Treatment.
“We have strictly applied the provisions in the Memorandum of Understanding with our official creditors and have continued to remain in contact with all external creditors included in the debt restructuring perimeter, the statement added.
It reiterated the government’s commitment to achieving a fair and mutually beneficial resolution with all creditors. The West African cocoa, gold, and crude oil exporter has been restructuring both domestic and external debts since Dec. 2022 in line with broader reforms to sterilize its economic headwinds, including spiraling public debts, high inflation, exchange rate volatilities, and low fiscal economic growth.