My govt will honour Eurobond holders with $346m

My govt will honour Eurobond holders with $346m – Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has announced that the government will pay $346 million to Eurobond holders, effective January 3, 2025.

In his statement, the President emphasized the government’s commitment to honoring its financial obligations and avoiding any defaults on debt repayments. He stressed the significance of maintaining the country’s credibility and financial stability through these timely payments.

Delivering his final State of the Nation Address (SONA), on January 3, President Akufo-Addo said, “I am happy to inform the House that today, 3^rd January 2025, my government will honour coupon payments to our Eurobond holders amounting to three hundred forty-six million US dollars ($346 million). We cannot afford to default on our debt repayments.”

The government of Ghana on June 24, 2024, reached an agreement in principle with the Committee of holders of its Eurobonds on a restructuring of its debt in a step towards the country’s economic recovery.

The agreement was expected to offer significant cash flow and debt stock relief to help Ghana’s economic recovery in line with the International Monetary Fund-financed programme.

The Committee, representing the bondholders, reaffirmed its support for Ghana’s dedication to sustainable economic policies, intended to strengthen macroeconomic stability, enhance investor confidence, and institutionalize fiscal credibility.

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