Ghana’s President John Dramani Mahama and Finance Minister Cassiel Ato Forson used an investor conference in London to argue that African debt is systematically mispriced and to call for faster, fairer debt restructuring mechanisms. Ghana defaulted on its debt in 2022 and subsequently restructured under the G20’s Common Framework, which many have criticized as too slow. Mahama called on Britain to shift its relationship with Africa from one centered on aid to one driven by investment and enterprise. Meanwhile, Forson revealed Ghana’s ambition to reach investment-grade credit status within three years, despite current ratings placing it firmly in sub-investment territory. He said Ghana’s recovery is gaining momentum but cautioned against excessive reliance on sovereign borrowing, emphasizing the need for greater private-sector participation.
CNBC Africa
