Ghana’s Ministry of Finance said on Monday that the government had made an additional 700-million-U.S.-dollar Eurobond repayment, bringing the total repayment to 2.1 billion dollars in line with the terms of the Eurobond Debt Exchange Program under the country’s external debt exchange program.
The payment consisted of 525.2 million dollars in principal repayments and 174.8 million dollars in interest payments, according to the release.
The payment, the release explained, was part of the government’s planned financing arrangements, designed to avoid putting undue pressure on the country’s foreign exchange reserves.
“The settlement reduces Ghana’s outstanding Eurobond debt, strengthens investor confidence, and demonstrates the government’s commitment to prudent debt management and macroeconomic stability,” the release added.
As part of its strategy to overcome the crippling debt overhang amid unprecedented economic turmoil, the government of Ghana, in October 2024, reached an agreement in principle with its international bondholders to swap at least 13 billion dollars in outstanding Eurobond debt for new Ghana government notes. Enditem
Comments are closed, but trackbacks and pingbacks are open.