According to President Nana Addo Dankwa Akufo-Addo, the government has started the process of paying coupon holders' arrears.

According to him, the arrears settlement will begin today, January 3, 2024.

The outgoing president said $346 million had been set aside to settle the debts in his final State of the Nation Address (SONA) to Parliament.

He stated that his government is still dedicated to meeting its financial obligations to creditors.

President Akufo-Addo declared, "We cannot afford to default on the payment of our debts."

In the meantime, he had emphasized how important it is that the next Finance Minister fulfill this duty and make sure that future debt payments are made on time.


"To maintain confidence in our financial system and meet the expectations of our creditors, this commitment must continue under the new administration," he continued.

According to him, the payment is a component of the government's larger endeavor to settle unpaid debts prior to the end of his term.