Finance Minister, Mohammed Amin Adam, has announced that Ghana is preparing to invite investors holding the country’s Eurobonds part of a substantial US$30 billion national debt—to swap their current bonds for newly reissued ones.
In a monthly economic update on August 29, Mr. Amin Adam described this move as essential for restructuring Ghana’s debt and rebuilding its relationship with the bond market.
He explained that this debt exchange is a significant step towards stabilizing Ghana’s financial standing.
“The completion of the debt exchange will pave the way for a normalization of our relationship with the bond market,” Mr Amin Adam explained.
The process will span 21 days, and the government is counting on full participation from all bondholders.
“We anticipate launching the exchange next week,” he added.