Ghana expects to sign four bilateral debt restructuring agreements by end-July 2025, a critical step toward reviving frozen infrastructure projects and meeting IMF targets.
Finance Minister Cassiel Ato Forson announced the pending accords during the Mid-Year Budget Review, linking them to the resumption of funding for 24 priority projects slated for completion by 2028.
The agreements part of Ghana’s IMF Extended Credit Facility commitments aim to unlock suspended disbursements. Economist Dr. Daniel Amateye Anim cautioned that while the deals offer “breathing room,” their impact hinges on disciplined execution: “They signal debt sustainability to markets but require revenue-backed follow-through.” Ghana paid GHS9.8 billion in domestic debt coupons in H1 2025, with GHS10.2 billion due in H2.
From August, the government will establish sinking funds targeting GHS115.75 billion for domestic debt and $3.73 billion for Eurobond redemptions through 2028. Anim praised the buffers as “fiscally mature” but warned against over-reliance, stressing that lasting recovery demands plugging revenue leaks and streamlining regulations. The move could reactivate construction and manufacturing sectors if paired with structural reforms.