The government just dropped a chunky $300 million today yeah, July 3, 2025 to sort out coupon payments it owes Eurobond holders. They’ve already sent the Ghana cedi part of the debt over to the Bank of Ghana for this whole operation.
Word from Joy Business is, Bank of Ghana’s gonna wire the cash to bondholders through their usual European and U.S. banking buddies. But only for those who played ball and agreed to the debt restructuring. No agreement, no cash. That’s just how it goes.
Apparently, all this money is coming from special Debt Service Accounts. These were set up just for these Eurobond coupon payments nothing else. Oh, and get this: another round of payments is lined up for August 2025. So, the party’s not over yet.
Quick flashback: back in October 2024, the government started actually paying the Eurobond debt again, after hashing out a deal to restructure it with bondholders. Last year alone, they coughed up $520 million in total yup, including a $120 million “thanks for swapping your old bonds” fee. Gotta keep everyone happy, I guess.
Fast-forward, the Mahama crew kept the payments rolling in January 2025. And that big Eurobond Debt Exchange Programme? It wrapped up last year, with almost every bondholder (seriously, nearly 100%) trading their old bonds for new ones. We’re talking about $13 billion restructured. That’s no small pocket change.
Thanks to all this, Ghana’s back in the game, servicing its debts to private creditors. But if you’re a bilateral creditor, don’t hold your breath just yet those payments are only kicking off in 2026.
So what’s the big deal? Well, analysts are crossing fingers that this steady progress will shine up Ghana’s credit ratings. This is the third payment since the restructuring deal, by the way. Some finance folks are even saying this could help Ghana borrow money at lower rates soon. Not bad, right? Especially with the government tightening its belt and making headway under the IMF’s watchful eye. All in all, Ghana’s risk profile might finally be moving in the right direction.