Omanghana
The United States and Ghana have signed a bilateral agreement to restructure sovereign debt owed to the Export-Import Bank of the United States (EXIM), marking another major step in Ghana’s ongoing efforts to restore economic stability following its 2022 sovereign default.
The agreement was signed on May 6, 2026, by Ghana’s Finance Minister, Cassiel Ato Forson, and Rolf Olson, representing the United States government.
The restructuring deal is expected to provide Ghana with short-term fiscal relief and greater flexibility in servicing its external debt obligations at a time when the country continues to face pressure from currency depreciation, high borrowing costs, and challenging global financial conditions.
According to statements from the U.S. Mission in Accra, the agreement forms part of broader efforts to support Ghana’s economic recovery while ensuring long-term financial sustainability. However, American officials stressed that Ghana must continue to honor the revised repayment terms to maintain strong economic cooperation and ongoing U.S. business engagement in the country.
The U.S. government also urged Ghana to make what it described as “demonstrable progress” in settling outstanding arrears owed to American private sector firms and higher education institutions. Washington indicated that addressing these obligations remains important for strengthening investor confidence and expanding future bilateral economic ties.
The latest agreement adds to a growing list of bilateral debt restructuring arrangements Ghana has secured with international partners as part of its comprehensive debt treatment program. In recent months, Accra has finalized similar deals with countries including France, the United Kingdom, and China.
Ghana defaulted on much of its external debt in 2022 amid a severe economic crisis triggered by rising inflation, a weakening currency, and mounting debt servicing costs. Since then, the government has been working with international creditors and the International Monetary Fund to restructure its debt and stabilize the economy.
Officials believe the latest agreement with the United States will help improve Ghana’s external financing outlook while supporting broader recovery efforts aimed at restoring investor confidence and macroeconomic stability.
Source: Omanghana
