Minister for Finance, Dr Mohammed Amin Adam has said that the Government of Ghana is dedicated to ensuring economic recovery and sustained growth.
He said this when he highlighted the country's overwhelming success of more than 98 percent consent under the Eurobond debt exchange programme. "We obtained more than 98 percent consent which is significantly higher than the 65 percent threshold from bondholders following the launch of the Exchange Offer and Consent Solicitation in September 2024", he said.
Speaking at the Ministry's instituted monthly economic update, the Minister disclosed that, "this impressive result surpasses international benchmarks and demonstrates the strong support of Ghana's bondholder community across Africa and in the international markets".
It would be recalled that, Government commenced a comprehensive debt restructuring operation in December 2022 on both the domestic and external debt in a systematic approach. The Minister indicated that after the successful completion of the Domestic Debt Exchange Programme (DDEP) and agreement of the Memorandum of Understanding with the Official Creditor Committee (OCC), government initiated an exchange offer and consent solicitation process on 5th September 2024 with the aim to restructure US$13 billion outstanding Eurobond portfolio. "As a result of this successful debt exchange, the country will exchange US$13 billion in Eurobonds for new bonds in the coming weeks" he revealed.