Government releases $300 million for Eurobond payments
Eurobond holders are to receive their coupon payments today, July 3, 2025, as the government releases $300 million for debt servicing.
According to myjoyonline.com reports, the cedi component of the debt had been handed over by the government to the Bank of Ghana to support the payments to the bondholders.
The payment is said to be made by the Bank of Ghana through its corresponding banks in Europe and the USA to bondholders who participated in the debt restructuring exercise.
The government is making the payments from the Debt Service Accounts established to help in coupon payments due to the Eurobond holders.
Another payment is, however, expected to be made in August 2025.
In October 2024, the government began Eurobond debt servicing after a debt restructuring agreement was reached with bondholders.
The government released a total amount of $520 million last year to pay the bondholders, including a $120 million consent fee for the bondholders who agreed to exchange their old bonds under certain conditions.
The government got almost 100% of Eurobond holders to agree to the restructuring.
Due to the economic crunch Ghana experienced in the last few years, it had to restructure Eurobonds due to its inability to pay creditors.
It succeeded in restructuring $13 billion, expecting to commence repayment from 2026.
SSD
