President Nana Addo Dankwa Akufo-Addo has announced that his government will honour coupon payments to Eurobond holders on January 3, 2025, amounting to $346 million.

The payment comes after both domestic and Eurobond holders were impacted by the Domestic Debt Exchange Programme (DDEP) introduced in 2022, which led to haircuts on their investments as part of the government’s strategy to address the country’s debt crisis.

During his final State of the Nation Address, Akufo-Addo highlighted that the country’s economy had shown signs of recovery, citing a reduction in the public debt-to-GDP ratio from 79.2% in September 2024 to 74.6% in October 2024, with expectations for further improvements.

He also reaffirmed that Ghana’s international reserves now stand at $8 billion, and economic growth has returned to pre-COVID levels. “Ghana is not broke,” he declared, emphasising that the government is meeting its debt obligations and working to reduce debt levels.

Source:TheDotNews