The Ministry of Finance has officially informed the public that the Government of Ghana has, through the Bank of Ghana, successfully effected a payment of US$349,523,674.56 in respect of Eurobond debt service obligations on Wednesday, July 3.

Since the conclusion of Ghana’s Eurobond debt restructuring in October 2024, the government of Ghana has cumulatively serviced US$1,174.64 million in Eurobond debt payments.

In October 2024, the government made an initial payment of US$475.60 million, covering obligations due under the restructuring agreement, including the first post-restructuring debt service.

This was followed by a US$349.52 million payment in January 2025. Now, in July 2025, a further US$349.52 million has been paid.

This brings Ghana fully up to date on all scheduled Eurobond debt service obligations for 2025. Looking ahead to 2026, a total debt service of US$1,409.06 million is scheduled.

This timely payment reaffirms Ghana’s commitment to macroeconomic stability, prudent debt management, and constructive engagement with external creditors.

It is also expected to positively influence Ghana’s credit ratings trajectory in the months ahead, as it demonstrates continued discipline in debt servicing post-restructuring.

Additionally, it is likely to boost investor confidence in Ghana’s sovereign credit profile and economic recovery programme, while supporting foreign exchange market stability, given that the payment has been incorporated into the Bank of Ghana’s reserves and liquidity management strategy.

With 98% participation from bondholders, Ghana was able to restructure $13 billion in Eurobond debt, paving the way for the continuation of payments last year. Regular coupon payments commenced in January 2025. The Finance Minister at the time (2024), Dr. Mohammed Amin Adam, announced the creation of a Sinking Fund to alleviate the fiscal pressure of the repayments.

Meanwhile, the government of Ghana has brought to an end the series of engagements with China geared towards enhancing the debt restructuring efforts.

Minister for Finance, Dr Cassiel Ato Forson, who described the meetings as helpful and a big step forward in solving the country’s debt problems, revealed this information in a post on social media on Tuesday, July 1.

According to him, these talks are part of the government’s efforts to fix the economy, reduce the country’s debt burden, and ensure that the lives of ordinary Ghanaians are protected.

Dr. Forson added that the progress made in China puts Ghana in a stronger position to complete this difficult process and build a more stable and inclusive economy.

In April this year, the sector minister announced Ghana's preparedness to conclude bilateral agreements for the restructuring of its $5.1 billion official bilateral debt by June, a goal that Finance Minister Dr. Cassiel Ato Forson had described as “ambitious.”

This followed the signing of a Memorandum of Understanding (MoU) with the Official Creditor Committee (OCC) on January 28.