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Ghana signs debt restructuring agreement with Belgium
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Ghana has signed a debt restructuring agreement with the Kingdom of Belgium as part of efforts to restore the country’s economic stability after the financial crisis that hit the nation in 2022 and 2023.
The Minister of Finance, Cassiel Ato Forson, today disclosed that he signed the agreement on behalf of the Government of Ghana.
He explained that Ghana experienced a very difficult period during the crisis, which forced the government at the time to declare a debt default.
However, he indicated that the country is now recovering and witnessing a significant economic turnaround.
According to him, stronger systems are also being put in place to ensure that Ghana does not return to such a situation again.
Dr Forson noted that the agreement with Belgium is the eighth deal Ghana has concluded with countries under the Official Creditor Committee as part of its external debt restructuring programme.
He expressed appreciation to the Government of Belgium for its support and partnership with Ghana during the process.
The Finance Minister thanked Carole van Eyll, Ambassador of Belgium to Ghana, for her role in strengthening relations between the two countries.
The agreement forms part of Ghana’s broader effort to restructure its external debts and stabilise the economy following the crisis.
By: Jacob Aggrey
Minister for Education Haruna Iddrisu has questioned why Ghana continues to import toothpicks despite having the resources to produce them locally.
Speaking in Parliament, Mr. Iddrisu, who previously served as Minister for Trade and Industry, said he feels ashamed that the country still depends on imports for such a basic product.
“I have been Minister for Trade and Industry before and I carry the shame. How come that in Ghana we cannot produce toothpicks and we have to import them?” he asked.
According to him, Ghana has enough resources to support local businesses to manufacture products such as toothpicks instead of relying on imports. He said the country should encourage private sector investment in manufacturing to create jobs and reduce dependence on foreign goods.
Mr. Iddrisu alleged that some people who received government support under private sector initiatives failed to use the funds for their intended purpose.
“If you want, Honorable Kojo, because you… I can’t go there. There are people who took money in the name of the private sector and said they were going to farm. That money never went to their farms. You know that,” he told Parliament.
On job creation, the Education Minister said he agreed with the views expressed by a colleague on the need to create more employment opportunities. However, he argued that the One District, One Factory (1D1F) programme did not provide the solution to Ghana’s employment challenges.
Mr. Iddrisu made the remarks during parliamentary proceedings while contributing to discussions on job creation and the country’s industrial development.
By: Jacob Aggrey
New Patriotic Party (NPP) communications officer, Dennis Miracles Aboagye, has dismissed reports linking him to an alleged GH¢55 million case, insisting that no such issue was raised during his detention by the Economic and Organised Crime Office (EOCO).
In a Facebook post after his release from EOCO custody, Mr Aboagye stated that at no point during his detention was he questioned about any GH¢55 million.
“For the records: There was no discussion of any GH¢55 million with me by EOCO. None,” he wrote.
According to him, he was detained for four days, a day after announcing his intention to contest for the position of National Communications Director of the New Patriotic Party.
Mr Aboagye alleged that false narratives were circulated about his arrest but expressed confidence that the truth would eventually prevail.
He thanked NPP supporters who demonstrated and called for his release, saying news of the protests reached him while he was in detention and encouraged him.
Mr Aboagye indicated that the support shown by party faithful strengthened his resolve and reaffirmed his commitment to serve the NPP.
He maintained that his detention had not discouraged him from pursuing his political ambition.
“If the intention was to break me, it has failed. If the intention was to scare me, it has failed spectacularly,” he stated.
Mr Aboagye expressed appreciation to his legal team, the leadership of the NPP and all supporters who stood by him throughout his detention.
He reiterated his determination to lead the party’s Communications Directorate, declaring that he remained “ready to win” and committed to what he described as the party’s mission to “command the narrative.”
By: Jacob Aggrey
