Ghana's parliament approves $2.8 billion debt restructuring deal

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Ghana's parliament approves $2.8 billion debt restructuring deal   Lawmakers in Ghana have approved a 2.8 billion dollar debt restructuring deal in an effort to ease the country's worst economic crisis in decades.   READ MORE : http://www.africanews.com/2025/06/25/ghanas-parliament-approves-28-billion-debt-restructuring-deal  Subscribe on our Dailymotion channel and receive all the latest news from the continent.    Africanews is available in English and French.  Website : www.africanews.com  Facebook : https://www.facebook.com/africanews.channel/  Twitter : https://twitter.com/africanews

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00:00Lawmakers in Ghana have approved a $2.8 billion debt restructuring deal in an effort to ease

00:08the country's worst economic crisis in decades. The West African nation signed a memorandum

00:15of understanding with 25 creditor nations in January after defaulting on most of its

00:20external debt at the end of 2022. The restructuring is aimed at reducing Ghana's debt-to-GDP ratio

00:29to 55 percent by 2026. The government is also planning to lower its debt service-to-revenue

00:37ratio to below 18 percent within three years. A major producer of both cocoa and gold, Ghana

00:45defaulted on most of its $30 billion in international debt under pressure from the

00:50COVID-19 pandemic, the war in Ukraine and rising interest rates.

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