Ghana has formally entered a significant debt restructuring agreement with the Kingdom of Belgium, marking a crucial step in the nation's ongoing efforts to stabilize its public finances and recover from the severe economic crisis experienced in 2022 and 2023. The agreement was officially signed by Ghana's Minister for Finance, Dr. Cassiel Ato Forson, who underscored the profound difficulties Ghana faced during the crisis, a period that necessitated the government to declare a debt default.

Speaking at the signing ceremony, Dr. Forson reflected on the challenging financial crisis of 2022-2023, stating, "Ghana went through a very difficult period in 2022–2023. It was a financial crisis and the government of the day had to declare a default." He highlighted a positive shift, noting that the country is now witnessing a significant economic turnaround as various reforms and fiscal consolidation measures begin to yield positive results. The Minister emphasized the government's commitment to implementing robust systems to prevent a recurrence of such a crisis, ensuring long-term economic stability.

Dr. Forson further elaborated that this agreement with Belgium is an integral part of Ghana's broader external debt restructuring programme, which is nearing completion. This particular deal with Belgium represents the eighth bilateral debt restructuring agreement that Ghana has successfully concluded with a country under the Official Creditor Committee (OCC) framework. He extended sincere gratitude to the Government and people of Belgium, as well as their diplomatic representatives, including Ambassador Carole van Eyll, for their invaluable cooperation and unwavering support throughout the complex restructuring process.

In response, Belgium's Ambassador to Ghana, H.E. Carole van Eyll, reaffirmed her country’s steadfast commitment to supporting Ghana through its economic recovery journey. Ambassador van Eyll expressed Belgium's satisfaction with the conclusion of the restructuring agreement and commended Ghana's dedicated efforts in restoring macroeconomic stability. "We are happy to continue supporting Ghana, and we are pleased that this restructuring has been concluded," she stated. She also conveyed Belgium's anticipation of strengthening future cooperation with Ghana as the nation progresses further on its path of economic recuperation and economic growth.