President Nana Addo Dankwa Akufo-Addo has revealed that the government has fulfilled its financial pledges by clearing the final coupons owed to domestic bondholders.
In 2023, the government initiated a domestic debt exchange program aimed at individual and pension bondholders as part of its revenue strategy to meet the requirements of an agreement with the International Monetary Fund (IMF).
Delivering the State of the Nation address (SONA) to Parliament on Tuesday, February 27, President Akufo-Addo disclosed that, an amount of GH¢5.8 billion has been paid to the bondholders.
“A week ago, last Tuesday, on 20th February 2024, the second coupon of five-point-eight billion cedis (GH¢5,847.72 million) was paid to domestic bondholders. This is the largest coupon paid in a day in Ghana’s history.”
He further stated that the government is presently in discussions with Ghana’s external creditors to ensure the smooth implementation of the extended credit facility with the IMF.
“On the external debt side, we achieved a significant milestone by reaching an agreement with our public creditors, and I will use this occasion to express our appreciation to the Republic of France and the People’s Republic of China, co-Chairs of the Official Creditors Committee, for their positive roles in this achievement. We have also intensified our engagement with our external bondholders on the principles of transparency, fair treatment, consistency with the IMF debt sustainability analysis, and good faith. We are focused and committed to accelerating the process,” he said.