Ghana nears completion of external debt restructuring
Ghana has completed the final stage of its external debt restructuring programme with the successful exchange of outstanding SADEREA Notes, the Ministry of Finance has announced.
A statement issued by the Ministry and copied to the Ghana News Agency said the exchange was settled on July 13, 2026, with a value date of July 10, 2026.
The Ministry described the development as a major milestone in Ghana’s economic recovery efforts, noting that it resolves the last outstanding component of the country’s sovereign bonded debt restructuring.
Ghana’s external debt restructuring has been a central pillar of the recovery programme since 2022, when mounting debt-service obligations, high inflation and depreciating exchange rates triggered severe fiscal pressures.
The Government subsequently sought support from the International Monetary Fund (IMF) under a US$3 billion Extended Credit Facility approved in May 2023.
As part of efforts to restore debt sustainability and secure IMF support, Ghana undertook a comprehensive restructuring of both domestic and external debt.
According to the statement, the SADEREA Notes relate to the 12.5 per cent Senior Secured Amortising Bonds, which were issued to finance capital expenditure in Ghana’s health sector.
Of the original issuance of $117.8 million in principal remained outstanding as of January 2026.
The Ministry said the successful exchange underscored government’s commitment to restoring debt sustainability, strengthening investor confidence and maintaining macroeconomic stability.
“The completion of this exchange brings Ghana to the final stage of its external debt restructuring,” the statement noted.
It reaffirmed its commitment to prudent debt management practices, sound public financial management and the implementation of policies aimed at safeguarding long-term macroeconomic stability.
Source: GNA