Nana Addo Dankwa Akufo-Addo is Ghana’s former president
Former President Nana Addo Dankwa Akufo-Addo has described Ghana’s debt restructuring efforts under the G20 Framework as one of the darkest moments of his presidency.
According to a report by myjoyonline.com, the former president said the exercise occurred at a time when most Ghanaians were engulfed in financial hardships.
Speaking at the AU-EU High-Level Seminar in Brussels on October 2, 2025, Akufo-Addo said that although the programme brought temporary relief, its impact continues to linger on both the economy and the citizenry.
“I witnessed the suffocating grip of debt on our economy and on our citizens. This deeply troubled me and still does,” he shared.
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He added that when Ghana opted for the G20 Common Framework, the journey was tough and painful but ultimately yielded positive results, enabling the country to restructure $13 billion in Eurobonds in 2023 and secure $10.5 billion in external debt service relief through 2026.
“The process was sequential, not simultaneous. It prolonged uncertainty. It eroded investor confidence. And it inflicted a heavy cost at home that was a dark cloud moment for me as President,” he stated.
He further called for bold and stronger debt repayment reforms for Africa, insisting that it should be treated not as charity, but as justice, the report added.
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