The government of Ghana is expected to make a $346 million payment to Eurobond holders effective January 3, 2025, President Akufo-Addo has announced.

According to him, the move forms part of the government's commitment to honoring its financial obligations and avoiding any defaults on debt repayments.

Delivering his final State of the Nation Address (SONA) on January 3, 2025, in Parliament, President Akufo-Addo emphasised the importance of maintaining the country’s credibility and financial stability through these timely payments.

“I am happy to inform the House that today, 3rd January 2025, my government will honor 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,” he told Parliament.

The announcement by the President comes after the government, back in June 2024, reached an agreement in principle with the Committee of holders of its Eurobonds on a restructuring of its debt, which is a step towards the country’s economic recovery.

The agreement with international creditors comes in the wake of addressing Ghana’s debt situation to tackle the economic challenges.

Additionally, the restructuring of Eurobonds forms part of the conditionalities set by the International Monetary Fund (IMF) to unlock Ghana’s financial bailout package of $3 billion over a three-year period.





MA