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Ghana is set to resume the payment of debt it owes to Eurobond holders in about two weeks, having completed its $13 billion external debt exchange programme.

Meanwhile, the repayment of debt owed to the Official Bilateral Creditors has been postponed to 2028, Dr Mohammed Amin Adam, Finance Minister, announced at a press in Accra on Thursday, October 3.

“By the 98 per cent we’ve achieved, we’ve all consented to the exchange, but the actual exchange will take place over the next two weeks, and once we exchange, it means that we can start servicing our debts,” he said.

“We’ll not service at the levels we’d have done because of the reduction in the interest rate and principal… with the Official Bilateral Creditors, the servicing of the debt has been postponed until after 2028,” he added.

The Finance Minister stated that the government was building enough buffer for the repayment of the country’s debt, by growing the Sinking Fund and increasing revenue to Gross Domestic Product (GDP) to 18 per cent.

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