Ghana-UK Signs Bilateral Agreement

Ghana, UK Sign Bilateral Debt Restructuring Agreement

 September 25, 2025

Ghana has signed a Bilateral Debt Restructuring Agreement with the United Kingdom as part of ongoing efforts to stabilise its economy and restore debt sustainability.

The agreement, which covers approximately US$256 million, was signed by the Minister of Finance, Dr. Cassiel Ato Forson, and His Majesty’s Trade Commissioner for Africa, Mr. John Humphrey, at a ceremony in Accra on Wednesday.

This deal marks the third bilateral debt restructuring agreement concluded by Ghana, following earlier accords with France and the Export-Import Bank of China.

In a statement shared on his official X account, Dr. Forson said the agreement represents a “critical milestone” in Ghana’s debt restructuring programme and reflects the deepening of economic ties between Ghana and the UK.

He further disclosed that the government is working with UK Export Finance (UKEF) to reinstate financing for a number of stalled but priority projects, including:

Also present at the signing were the UK High Commissioner to Ghana, H.E. Christian Rogg, the Chief Director of the Ministry of Finance, Mr. Patrick Nomo, and other senior officials from both governments.

Earlier in the day, Dr. Forson also hosted the President of the Arab Bank for Economic Development in Africa (BADEA), H.E. Abdullah KH Al-Musaibeeh, at the Finance Ministry, where he expressed Ghana’s gratitude for BADEA’s longstanding support, particularly in the social sector.

The Minister noted that despite a tight fiscal environment, the government remains committed to investing in transformative projects. He announced that feasibility studies have commenced for a new Accra–Kumasi motorway, which is expected to be completed within two and a half years.

The signing of the UK agreement adds momentum to Ghana’s broader restructuring programme, aimed at restoring macroeconomic stability and unlocking stalled financing for critical infrastructure.