Le jeudi 5 septembre dernier, un comité of Eurobond holders from Ghana announced their support for the debt exchange program. The program was launched by the Ghanaian government earlier today as part of a process to restructure the country's debt

The exchange program for these debt securities offers creditors two options to choose from. The first consists of a 37% discount and the obtaining of new bonds maturing in July 2029 and July 2035, with an interest rate of 5% from the current year to July 2028, and 6% thereafter. The second option involves the exchange of old bonds for new debt instruments that mature in January 2037 and have an interest rate of 1.5%, without any discount

The support provided by Eurobond holders to this program, proposed by the government, marks a crucial step in the process of reprofiling the country's debt. According to a statement from the group of Eurobond holders, “the committee considers that the legal and financial conditions of the exchange offer and the request for consent are in line with the agreement in principle reached between the committee and Ghana in June 2024”. According to the information in this press release, “by supporting the exchange offer, the Committee reiterates the importance for Ghana to maintain its economic reforms, including the establishment of fiscal anchors and credible debts”. For the committee, “such reforms will be necessary for Ghana to regain access to international markets over time and to achieve its development goals.”