By Prince Antwi
The Government of Ghana has disbursed US$300 million today, July 3, 2025, to service coupon payments owed to Eurobond holders, marking continued progress in its post-restructuring debt commitments.According to information gathered by Joy Business, the cedi-equivalent of the payment had already been transferred to the Bank of Ghana, which will process the disbursements through its corresponding banks in Europe and the United States. The payments are being made to bondholders who accepted the terms under the Eurobond Debt Restructuring Agreement.
These transactions are facilitated through designated Debt Service Accounts established specifically to manage coupon payments to Eurobond investors. An additional coupon payment is scheduled for August 2025.
Ghana began servicing its Eurobond debt in October 2024 after reaching a restructuring agreement with bondholders. In total, US$520 million was disbursed last year, including a US$120 million consent fee paid to bondholders who exchanged their old bonds for new ones under agreed terms.
The debt servicing process has continued under the current administration led by President John Dramani Mahama, with the most recent phase beginning in January 2025. The successful conclusion of the Eurobond Debt Exchange Programme saw nearly 100% participation from bondholders and restructured approximately US$13 billion in Eurobond debt.
While payments to private bondholders have resumed, repayments to bilateral creditors are expected to commence in 2026.
Analysts believe this consistent payment performance could positively influence Ghana鈥檚 credit ratings in the coming months. This is the third coupon payment since the restructuring deal, and it reflects the government’s commitment to honouring its obligations under the agreement.
Financial experts suggest the improved payment track record, coupled with ongoing fiscal consolidation efforts and progress under the IMF-supported programme, could enhance Ghana鈥檚 creditworthiness and reduce the country鈥檚 borrowing costs.