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Economy in Ghana: restart of Eurobond trading

27/08/2024
Source : ORISHAS-FINANCE
Categories: Economy/Forex

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La ministre des finances ghanéenne a déclaré que les investors are invited to exchange their existing Eurobonds for new ones within ten working days.

Holders of Ghanaian eurobonds are offered two exchange options. The $13 billion eurobond restructuring agreement was signed by the Ghana Ministry of Finance and the Credit Committee in June. The second option is to cancel the debt by 37% and buy new bonds maturing in July 2029 and July 2035, with an interest rate of 5% for the current year until July 2028 and 6% thereafter. And the last is to exchange old bonds for new debt instruments that mature in January 2037 and carry an annual interest rate of 1.5%, without depreciation of part of the debt. To this end, the Ghanaian authorities plan to reduce public debt by 10.5 billion dollars between 2023 and 2026 in order to reduce the debt/GDP ratio from 88.1% at the end of 2022 to 55% by

2028.
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