Ghana has reached an MoU with its official creditor committee, OCC after the signing by all participating credit countries.
A statement issued by the Public Relations unit of the Finance Ministry said the signing of the MoU formalities the debt treatment agreed upon with official creditors and marks a crucial step towards the country’s restoring long-term debt sustainability.
The agreement provides significant debt services relief during the Fund-supported programme period, allowing financial resources to be directed towards supporting and strengthening recovery.
According to the statement the MoU signed, the agreed terms will be implemented through bilateral agreements with each OCC member.
Additionally, Ghana is committed to working closely with its Official Creditors to expedite the process of signing the bilateral agreements.
The statement concluded that Ghana continues to engage in good faith with all commercial external creditors, striving to finalize restructuring agreements that respect Ghana’s need for debt relief and the comparability of treatment principles.
