Eurobond debt restructuring shows investor confidence in economy – President Akufo-Addo

President Akufo-Addo hailed Ghana's Eurobond Debt Exchange Programme, which secured nearly 100% investor participation, as a sign of confidence in the economy.

The program, part of Ghana’s efforts to restructure its debt for a $3 billion IMF bailout, reworked $13 billion in debt, canceled $5 billion, and saved $10 billion in total.

Investors will receive new bonds with revised terms, including a 37% haircut and interest rates of 5% (2024-2028) and 6% thereafter.

President Akufo-Addo expressed optimism that the deal, finalized by October 9, 2024, signals Ghana's economic recovery from COVID-19 shocks.