President Nana Addo Dankwa Akufo-Addo says that the government has fulfilled its financial obligations to bondholders.
He disclosed that the government has settled the last coupons owed to bondholders an amount of GH¢5.8 billion.
“For the last leg of the domestic debt exchange on September 5, 2023, a week ago last Tuesday, on February 20, 2024, the second coupon of GH¢5.8 billion was paid to domestic bondholders. This is the largest coupon paid in a day in Ghana’s history.
In 2023, the government announced a domestic debt exchange programme targeted at individual and pension bondholders.
This was part of the conditions for an agreement with the International Monetary Fund (IMF).
“On the external debt side, we have achieved a significant milestone by reaching an agreement with our bilateral creditors and I will use this occasion to thank the Republic of China and France, co-chairs of the official creditors committee for their positive roles in this achievement.”
Groups of bondholders (The Ghana Individual Bondholders Forum and the Individual Bondholders Association of Ghana) initially kicked against the announcement of the programme but it was eventually enrolled in the programme after months of picketing at the Finance Ministry.