Dr. Cassiel Ato Forson, Minister of Finance
The Minister of Finance, Dr. Cassiel Ato Forson, has stated that the government’s debt restructuring process is nearly complete.
According to him, the process is 93% finished, with only 7% of the debt, amounting to $2.7 billion, still outstanding.
He attributed the reduction in the dollar component of the country’s debt stock to the haircut on Eurobonds.
Dr. Ato Forson made this known while presenting the 2025 budget in Parliament on March 11, 2025.
“Mr. Speaker, the reduction in the debt-to-GDP ratio and the dollar component of our debt stock is a result of the 37% haircut on the principal of the Eurobond debt under the debt restructuring program,” he stated.
“Mr. Speaker, you may recall that the government commenced the debt restructuring program in 2022 to restore debt sustainability and economic stability. As of now, the restructuring process is approximately 93% complete, with the remaining 7% related to a debt of US$2.7 billion owed to commercial creditors,” he added.
However, the minister assured that the government remains committed to completing the process.
“We are committed to finalizing the remaining debt restructuring as soon as possible,” Dr. Ato Forson said.
SSD/MA
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