Government releases $300 million for Eurobond payments
Eurobond holders are set to receive their coupon payments today, July 3, 2025, as the government releases $300 million for debt servicing.
According to reports, the cedi component of the debt has been handed over by the government to the Bank of Ghana to facilitate payments to bondholders.
The payments are being processed by the Bank of Ghana through its correspondent banks in Europe and the USA, targeting bondholders who participated in the debt restructuring exercise.
The government is making the payments from the Debt Service Accounts, which were established to support coupon payments due to Eurobond holders.
Another payment is expected to be made in August 2025.
In October 2024, the government resumed Eurobond debt servicing after reaching a debt restructuring agreement with bondholders.
Last year, the government released a total of $520 million to pay the bondholders, which included a $120 million consent fee for those who agreed to exchange their old bonds under specified conditions.
The government successfully secured almost 100% participation from Eurobond holders in the restructuring deal.
Ghana was compelled to restructure its Eurobond debts following a severe economic downturn in recent years, which rendered it unable to meet its debt obligations.
Ultimately, the government managed to restructure $13 billion in Eurobond debt, with repayment scheduled to fully commence in 2026.
SSD/MA
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