Ghana has signed its 11th bilateral debt restructuring agreement as part of ongoing efforts to restore fiscal stability and reduce debt vulnerabilities.

The latest agreement, concluded with EXIM India, was signed by the Minister for Finance, Cassiel Ato Forson, marking another milestone in the country’s debt restructuring programme.

According to the Finance Minister, Ghana is making steady progress toward achieving a low risk of debt distress, with key economic indicators suggesting that the most difficult phase of the crisis has passed.

He reaffirmed the government’s commitment to honouring all restructured debt obligations promptly, stressing that maintaining debt sustainability will remain central to future financing decisions.

As part of broader fiscal reforms, the government is set to introduce a new Loans Act aimed at tightening controls on borrowing.

The proposed legislation will define clearly how borrowed funds can be used, ensuring that loans are directed toward high-impact and value-for-money projects.

The move is intended to prevent a return to unsustainable borrowing practices that contributed to Ghana’s recent economic challenges.

He said the guiding principle behind the new approach is to ensure that every loan contracted delivers measurable benefits to citizens.

The Finance Minister emphasised that future borrowing will be tied strictly to projects that support economic growth and improve livelihoods, signalling a shift toward greater accountability and long-term fiscal discipline.

The agreement with EXIM India is expected to further strengthen Ghana’s external debt restructuring framework as the country continues its economic recovery efforts.