Finance Minister Mohammed Amin Adam has announced that Ghana will soon invite investors holding the country’s Eurobonds—part of an estimated national debt of US$30 billion—to exchange their bonds for reissued ones.
Speaking at a monthly economic update on August 29, Mr Amin Adam described this move as a crucial step in restructuring Ghana’s debt.
He stated that the completion of the debt exchange process would help normalize Ghana’s relationship with the bond market.
“The completion of the debt exchange will pave the way for a normalization of our relationship with the bond market,” Mr Amin Adam explained.
He noted that the exchange period would last 21 days, with the government expecting full participation from all bondholders.
“We anticipate launching the exchange next week,” he added.
Credit: classfmonline.com
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