By Kekeli K. Blamey
In a significant development, Ghana’s bilateral creditors have reached an agreement with Eurobond holders, clearing the path for the nation to secure a critical debt restructuring deal.
The accord will allow Ghana to restructure its external debt, including the $1.2 billion Eurobond maturing in 2025.
This milestone follows months of rigorous negotiations involving the government, bilateral creditors, and Eurobond holders. The deal is anticipated to ease Ghana’s debt burden substantially and aid in restoring macroeconomic stability.
Furthermore, the agreement is viewed as a pivotal step towards unlocking a potential International Monetary Fund (IMF) program for Ghana, which has been actively seeking assistance to address its economic challenges.
The Ministry of Finance has lauded the agreement, declaring it a testament to Ghana’s dedication to debt sustainability and its capacity to collaborate with creditors to achieve mutually advantageous outcomes.
The development has been widely praised as a positive move towards rejuvenating investor confidence in Ghana’s economy.
