Debt restructuring losses to be recovered in 2026

Debt restructuring losses to be recovered in 2026 – Amin Adam assures

The government has assured Ghanaians impacted by investment losses linked to the debt restructuring program, stemming from the COVID-19-induced economic downturn, that their losses will be recovered by the end of 2026.

This assurance is based on expectations of an economic rebound and positive improvements in the country’s macroeconomic indicators.

During a monthly press briefing, Finance Minister Dr. Mohammed Amin Adams emphasized that the government is committed to implementing long-term policies aimed at sustaining the recovery.

He expressed confidence that these measures will restore economic stability and create conditions for the recovery of investments.

I do not have any doubt that in a year or two, those who have lost money will recover their money. I know they will be smiling to the bank. It has taken us a lot of effort to bring this economy back to this state. Many people doubted, but I want to reassure you that this recovery is not by accident but by strong policies”.

The Minister also pledged to honor all restructured debts given the economy’s positive outlook.

Highlighting recent impressive economic performance, Dr. Mohammed Amin Adam was confident about the timely fulfilment of these obligations.

He added that the government is on track to settle obligations to Eurobond holders ahead of the January 2025 maturity date.

This will mark the second consecutive achievement in meeting its commitments, following the successful payment of $520 million in coupon obligations in October 2024.

The timely settlement signals the government’s commitment to maintaining its creditworthiness and rebuilding investor confidence amidst ongoing economic reforms.

By prioritizing debt service, the administration aims to sustain access to international capital markets and support the broader goal of financial stability and economic recovery.

Our next coupon payment will be 2nd January, we are ready. We are not going to default, we are ready.”

The Minister added that it will continue with its fiscal consolidation efforts with far-reaching benefits to better the lives of Ghanaians.

Comments

US-Based Doctor Supports Weija Leprosarium, Underprivileged Children In Ankaase With Cash & Food Items

In a remarkable display of philanthropy, US-based medical practitioner, Dr. Kofi Kyei Sarfo, and the Sarfo family have made significant donations to support vulnerable communities in Ghana. During his visit to Ghana for the Christmas and New Year festivities, Dr. Sarfo and his family donated assorted food items and $5,000 to the Weija Leprosarium in Accra. This generous act aims to improve the lives of the inmates and support the tireless efforts of Rev. Father Andrew Campbell, founder of the Lepers Aid Committee. The donation to the Weija Leprosarium is a testament to Dr. Sarfo's commitment to giving back to his community. He praised Rev. Father Andrew Campbell for his selfless work in integrating cured lepers into society, emphasizing the need for continued support to ensure the well-being of the inmates. Dr. Sarfo encouraged others to follow in his footsteps, stating that every donation, no matter how small, can make a significant difference in the lives of the inmates. The don...

Nestlé Ghana Limited Wins Overall Best Industrial Company Of The Year at 13th AGI Industry & Quality Awards

Nestlé Ghana Limited has been honored with four prestigious awards at the 13th Association of Ghana Industry and Quality Awards ceremony. The event, held in an esteemed setting, gathered prominent figures from Ghana’s industrial sector. Amidst the anticipation, Nestlé Ghana emerged as one of the evening’s notable winners, securing accolades in several key categories. This recognition underscores Nestlé Ghana’s relentless pursuit of excellence and innovation, marking a significant milestone that highlights the company’s substantial contributions to the manufacturing industry in Ghana. Nestlé Ghana's exceptional performance was acknowledged with the following awards: Overall Best National Quality Award, Diamond Category (Food) Overall Best Practices in Sustainable Manufacturing Best Company (Food Sector) Overall Industrial Company of the Year, affirming its status as a leader not only within the food sector but also across Ghana's entire industrial landscape. This success is a ...

Mfantsiman Girls to Host 65th Speech & Prize-Giving Day

Mfantsiman Girls Senior High School is set to host the 65th Speech and Prize-giving Day and Homecoming from 14th to 16th March at Saltpond in the Central region. This year’s Speech and Prize-giving day is being hosted by the 2000-year group, and over 5000 old girls and students of Mfantsiman Girls are expected to attend the programme. Under the theme, ‘Leveraging New Media Technology to Optimize Girl Child Education,’ the event will emphasize the importance of harnessing technology to address the unique challenges faced by girls in accessing quality education, particularly in marginalized communities. By leveraging new media technology, we can create inclusive, interactive, and engaging learning environments that empower girls to reach their full potential. The theme will also serve as a call to action, encouraging students, educators, and stakeholders to explore innovative ways to integrate technology into girl child education, ultimately driving positive change and promoting a...

Kofi Ahovi

Search This Blog