Ghana is preparing to invite investors holding its Eurobonds to participate in a debt exchange program, according to Finance Minister Mohammed Amin Adam’s announcement on Thursday.
This initiative involves offering new bonds to replace existing ones, with the goal of resetting the country’s relationship with the international bond market.
The exchange program will span 21 days, during which the government hopes for comprehensive participation from all bondholders. This step is part of Ghana’s broader strategy to stabilize its financial standing and enhance investor confidence.
In a related move, the Ghanaian government will also seek funds through a syndicated loan and domestic channels to support the procurement of cocoa for the 2024/25 crop season.
This financial arrangement is crucial for maintaining the country’s cocoa industry, which is a significant component of its economy. The combined efforts reflect Ghana’s approach to managing both its debt obligations and economic priorities in a challenging financial environment.