Government agrees to pay 5% interest on bonds in 2023
The government has agreed to pay 5% coupon on bonds for this year after deliberations with the Ghana Association of Banks (GAB).
It will also pay a single coupon of 9% on the 12 new bonds it proposes to issue to domestic bondholders who tender their old bonds, a joint statement issued by the Finance Ministry and GAB on Monday (23 January) said.
The development is aimed at getting domestic bondholders to soften their stance in agreeing to a debt exchange programme as part of Ghana’s debt restructuring for a US$3 billion IMF relief package.
“This is a significant milestone towards addressing our economic challenges, and will thus help to restore macro-economic stability and accelerate Ghana’s economic growth,” the statement said.
“With this achievement, the Government of Ghana reiterates its commitment to concluding the DDEP in time with all other stakeholders,” the statement noted.
Below is the full statement: