GHANA is set to invite investors holding its Eurobonds to exchange their current bonds for reissued ones in the coming days, as part of the country’s ongoing efforts to restructure its debt. The announcement was made by Finance Minister Mohammed Amin Adam on Thursday, who emphasised the importance of this move in stabilising Ghana’s relationship with the international bond market.
‘The completion of the debt exchange will pave the way for a normalisation of our relationship with the bond market,’ Adam stated. He also mentioned that the exchange process is expected to last 21 days, urging all bondholders to fully participate in the offer.
In addition to the Eurobond exchange, the Ghanaian government plans to secure funds through a syndicated loan and domestic sources to finance cocoa purchases for the 2024/25 crop season, according to the finance minister.
This debt exchange initiative is a critical step in Ghana’s broader strategy to manage its financial obligations and restore investor confidence in its economy. The government’s proactive approach aims to ensure a sustainable economic future while addressing the challenges posed by its current debt situation.
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