![Finance Minister Mohammed Amin Adam Finance Minister Mohammed Amin Adam](https://www.adomonline.com/wp-content/uploads/2024/07/Finance-Minister-Mohammed-Amin-Adam-696x497.jpg)
The government has successfully secured $2.8 billion in debt relief from bilateral creditors, marking a significant step towards Ghana’s fiscal sustainability and economic recovery.
The Finance Minister, Mohammed Amin Adam announced this milestone at a press conference on July 1, 2024, highlighting the significance of the agreement under the G20 Common Framework for Debt Treatments.
The negotiations, which began after Ghana declared a debt standstill in December 2022, aimed to restructure $5.1 billion in official bilateral loans.
Mr Adam emphasized the extensive collaborative efforts that led to this favourable outcome and the crucial role of international cooperation in addressing global economic challenges.
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“We have reached a pivotal agreement with our official bilateral creditors, resulting in substantial debt service relief amounting to $2.8 billion between 2023 and 2026.
“This agreement underscores our commitment to prudent fiscal management and sustainable economic growth,” he stated.
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