• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

Governor Addison Confirms Adequate Reserves for Upcoming $478 Million Eurobond Debt Service Payment

1 year ago
in Banking & Finance, Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
243
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Governor Addison Confirms Adequate Reserves for Upcoming $478 Million Eurobond Debt Service Payment

Governor of the Bank of Ghana, Dr Ernest Addison, says the Central Bank has enough foreign reserves to make payment for the upcoming $478m in debt service to the country’s Eurobond holders.

Dr Addison addressing the media at the 119th Monetary Policy Committee (MPC) press briefing on Friday, July 26, 2024, noted the Central Bank has made provisions for dollar-denominated debt service payments this year.

“We are very much aware of the payments that are upcoming, if you look at the cash flow projections you would see that provisions have been made for this particular payment.

“So yes, we have built up reserves to meet some of these lumpy payments in the outlook,” quipped the Governor.

Ghana’s gross international reserves per recent data provided by the Bank of Ghana in the 2024 July Summary of Economic and Financial Data stands at $6.86bn, an increase from the $5.34bn reserves recorded same period last year.

Ghana is expected to start honouring its debt service obligations to Eurobond holders when it signs the final agreement with the bondholders on the newly restructured bonds.

RelatedPosts

African Airlines Record 9.4% Growth In Air Cargo Demand In July 2025 – IATA

South African President Ramaphosa Launches G20 Taskforce to Tackle Global Wealth Inequality Amid US Absence

Burkina Faso’s Nationalization Rattles West Africa’s Gold Sector

According to IC Africa Research, Ghana is expected to make debt service payments between $600m and $800m this year.

Ghana over a month ago reached an agreement with Eurobond investors to restructure approximately $13 billion of debt, terms of the deal involved bondholders accepting a nominal 37% haircut on their investments.

The 37% haircut in investments by the Eurobond holders is expected to result in some savings of $6bn for the country.

Before that, the country had also successfully reached an agreement with the Official Creditor Committee to restructure some $5.1bn in external debt with some savings of $2bn made from the restructured debt.

According to the Minister for Finance, Dr Mohammed Amin Adam, cumulative savings made from the country’s restructured external debts amount to some $8bn.

Tags: $478 Million Eurobond Debt Service PaymentBOGGovernor AddisonGovernor Addison Confirms Adequate Reserves for Upcoming $478 Million Eurobond Debt Service Payment
No Result
View All Result

Highlights

Experts Talk BoG’s New Currency Controls & Crackdown on NPLs on NorvanReports’ X Space Discussions Tonight

Piastri Claims Pole Position in Thrilling Dutch Grand Prix Qualifying

US Open: Osaka, Alcaraz, Djokovic Shine as Gauff Joins Them in Last 16

Morocco Beat Madagascar to Secure Historic Third CHAN Title

$41bn Reserves vs Empty Pockets: When Will Relief Come For Nigerians?

Africa Emerges as Manufacturing Haven Amid US–India Trade Tensions

Trending

Aviation

African Airlines Record 9.4% Growth In Air Cargo Demand In July 2025 – IATA

August 31, 2025

African Airlines Record 9.4% Growth In Air Cargo Demand In July 2025 – IATA African airlines saw...

South African President Ramaphosa Launches G20 Taskforce to Tackle Global Wealth Inequality Amid US Absence

August 31, 2025

Burkina Faso’s Nationalization Rattles West Africa’s Gold Sector

August 31, 2025

Experts Talk BoG’s New Currency Controls & Crackdown on NPLs on NorvanReports’ X Space Discussions Tonight

August 31, 2025

Piastri Claims Pole Position in Thrilling Dutch Grand Prix Qualifying

August 31, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.