Government expects restructuring of Eurobonds agreement by end of 2023 - Ofori-Atta

Ghana is expecting to reach an agreement with Eurobond bondholders by the end of 2023.

This is according to the Minister of Finance, Ken Ofori-Atta when he presented the 2023 mid-year budget review to parliament on July 31, 2023.

He noted that the government had begun the process of negotiating with international and commercial creditors after the successful completion of the Domestic Debt Exchange Programme.

Ofori-Atta said: "Mr. Speaker, Government has also begun the process of negotiating with its commercial creditors (our Eurobond investors). Two bondholder groups have been formed, comprising domestic and regional bondholders as well as international bondholders."

“Government has already shared a set of data and scenarios to commence discussions. On the restructuring of Eurobonds, we expect to receive counteroffers from the bondholders in the short-term and envisage an agreement by year-end,” he said.

SSD/NOQ