Ghana: Vice President hails Finance Ministry reforms after Eurobond maturities repayment

Ghana's Ministry of Finance has announced the full repayment of maturing Eurobond obligations and other major external debt commitments as part of its ongoing restructuring program. The information was relayed via a press release distributed by APO Group on behalf of the ministry, in which Vice President of the Republic, Prof. Naana Jane Opoku-Agyemang, congratulates Finance Minister Dr. Cassiel Ato Forson and all ministry staff for their commitment to implementing macroeconomic reforms supporting the government's Reset Agenda. The precise amount of the repaid maturities was not disclosed. The ministry also reaffirmed its determination to restore fiscal discipline and reduce the fiscal deficit over the medium term. For bondholders and the markets, this repayment confirms adherence to the debt service schedule following the restructuring of 13 billion dollars of Eurobonds finalized in 2024 and the Domestic Debt Exchange Programme (DDEP) initiated in 2023 following the December 2022 default. Ghana remains under an IMF Extended Credit Facility program, approved in May 2023 for 3 billion dollars. Internally, the fiscal stabilization of the Mahama government, which came to power in January 2025, relies on the continuation of IMF reviews and favorable mining and cocoa revenues; externally, Ghana's debt reduction trajectory remains sensitive to global interest rates and the prices of gold and cocoa, the country's main sources of foreign exchange.