Government says it has settled outstanding coupons, principal payments to Bondholders 

The government has settled all outstanding coupons and principal payments up until June 19, 2023, due to the Bondholders, while instructions have also been sent for payment of coupons falling due up until July 10, 2023.  

The government and the Coalition of Individual Bondholders Groups (CIBG), comprising members of the Individual Bondholders Forum (IBF) and the Individual Bondholders Association of Ghana (IBHAG), on May 16, 2023, reached an agreement regarding the government’s outstanding domestic debt service obligations. 

A statement issued in Accra said the agreement was captured in a Memorandum of Understanding, (MoU) dated May 16, 2023. 

It said per the terms of the MoU, the government undertook to pay all arrears on coupons of bonds maturing by May 31, 2023, as well as coupons falling due from June 1, 2023. 

 The Government reassured all bondholders of continuing and constructive engagement with the leadership of the CIBG, as well as the government’s commitment to the implementation of the terms of the MoU. 

The Ministry of Finance thanked all bondholders for their continuous support during this period of tight liquidity. 

It said the government was confident that in working with all stakeholders, “we shall restore macroeconomic stability, achieve inclusive economic growth, and transform the Republic.” 

Source: GNA