Ghana's Debt Crisis Eases: GHC150 Billion Slashed, President Announces

Ghana's Debt Slashed by Nearly GHC150 Billion: President Mahama Announces Restructuring Success Accra, Ghana – In a significant development for Ghana's economy, President John Dramani Mahama announced a major reduction in the nation's debt. Speaking at the Annual Meetings in Abidjan, Côte d'Ivoire, President Mahama stated that "the debt restructuring was concluded early this year with our bilateral creditors." This action has reportedly slashed nearly GHC150 billion from the national debt. The President emphasized that this restructuring leaves only about 3% of the debt outstanding, primarily held by commercial creditors. He highlighted the government's commitment to responsible financial management, stating that "we need to put any credit that we take into the most productive parts of our economy." The video shows President Mahama delivering his speech, along with footage of the audience's reaction to the announcement. The positive reception suggests widespread relief and optimism regarding the economic implications of this debt reduction. The successful restructuring represents a significant step towards stabilizing Ghana's economy and fostering future growth.