President Akufo-Addo Highlights Commitment to $346 Million Eurobond Payout in Final State of the Nation Address
President Nana Addo Dankwa Akufo-Addo has confirmed that his Government will fulfill a $346 million coupon payment to Eurobond holders, effective January 3, 2025.
The announcement underscores the current administration’s determination to uphold financial obligations and maintain credibility in the global debt market.
In his final State of the Nation Address on January 3, President Akufo-Addo stated, “I am happy to inform the House that today, 3rd January 2025, my government will honour coupon payments to our Eurobond holders amounting to three hundred forty-six million US dollars ($346 million). We cannot afford to default on our debt repayments.”
This repayment follows a landmark agreement reached on June 24, 2024, between the government and the Committee of Eurobond holders to restructure Ghana’s debt.
The arrangement is a crucial component of the country’s economic recovery plan supported by the International Monetary Fund (IMF).
The restructuring deal, aimed at alleviating Ghana’s fiscal pressure, provides significant cash flow relief while reducing the overall debt burden.
The bondholders’ committee has endorsed Ghana’s commitment to sustainable economic policies designed to restore macroeconomic stability and enhance investor confidence.
The timely fulfillment of the Eurobond payment highlights Ghana’s resolve to rebuild its financial standing and bolster the trust of international investors amidst ongoing economic challenges.
