Debt-to-GDP decline due to Haircuts, Not previous Govt’s efforts – Ato Forson

Finance Minister Dr. Ato Forson has attributed Ghana’s declining debt-to-GDP ratio to debt restructuring efforts, particularly the 37% Eurobond principal haircut implemented last year, rather than the policies of the previous administration.

Speaking on The Point of View on Channel One TV, he explained that writing off 37% of Eurobond principal and slashing accumulated interest by the same margin significantly reduced Ghana’s debt obligations.

Ghana’s agreement with Eurobond holders cut $5 billion from its $13 billion debt, a major step in economic recovery.

Presenting the 2025 Budget Statement, Dr. Forson reaffirmed the government’s commitment to macroeconomic stability, emphasizing that the debt-to-GDP decline was a direct result of debt restructuring, not past economic policies.