Ghana signs fifth bilateral debt deal with Spain to boost economic recovery
The country has signed a Bilateral Debt Restructuring Agreement with the Kingdom of Spain, marking the fifth such deal concluded under the country’s ongoing official creditor framework as part of efforts to restore debt sustainability and consolidate economic recovery.
The agreement was signed on behalf of the Republic of Ghana by the Minister for Finance, Dr Cassiel Ato Forson, and on behalf of Spain by the Spanish Ambassador to Ghana, H.E. Ángel Lossada Torres-Quevedo.
This latest deal follows earlier bilateral agreements reached with China Exim Bank, France, Finland and the United Kingdom, as government continues to negotiate with its official creditors to bring closure to the country’s debt restructuring process.
Speaking during the signing ceremony, Dr Forson said the agreement represents another significant step forward in Ghana’s broader debt resolution and recovery strategy.
He reaffirmed the government’s commitment to maintaining prudent fiscal management and implementing reforms aimed at preventing a recurrence of unsustainable debt levels.
“Our goal is to conclude all outstanding bilateral restructuring agreements by the end of this year, so that we can finally put this challenging period behind us and focus on consolidating our growth agenda,” the Finance Minister stated.
He expressed appreciation to the Government and people of Spain for their continued cooperation and support throughout the restructuring process, describing Spain as a trusted partner in Ghana’s economic development journey.
For his part, the Spanish Ambassador, Ángel Lossada Torres-Quevedo, commended Ghana for its progress in implementing key economic reforms and stabilising the macroeconomic environment.
He noted that Spain was pleased to be part of Ghana’s debt recovery and expressed optimism that the new agreement would open a “new and stronger phase in Spain–Ghana economic relations.”
The Ambassador reaffirmed Spain’s readiness to continue supporting Ghana’s economic transformation through trade, investment and technical cooperation.
The signing ceremony was witnessed by the Minister for Health, Kwabena Mintah Akandoh, alongside senior officials from the Ministries of Finance in both Ghana and Spain.
