The Ministry of Finance has announced what it describes as a major breakthrough in Ghana’s external debt restructuring programme following the successful exchange of the country’s outstanding SADEREA Notes, a development that brings the government to the brink of completing its sovereign external debt restructuring.
In a press release issued on Monday, July 13, 2026, the Ministry said the exchange was successfully settled on July 13 with a value date of July 10, describing the transaction as a significant milestone in Ghana’s economic recovery efforts.
According to the Ministry, the successful exchange resolves the last outstanding component of the country’s sovereign bonded debt restructuring, effectively placing Ghana in the final stage of its broader external debt restructuring programme.
“The successful exchange of the outstanding SADEREA Notes brings Ghana to the final stage of its external debt restructuring, marking a major milestone in the country’s economic recovery and resolving the last outstanding component of its sovereign bonded debt restructuring,” the statement said.
The Ministry explained that the SADEREA Notes were linked to 12.5 per cent Senior Secured Amortizing Bonds issued to finance capital expenditure in Ghana’s health sector.
The bonds supported investments aimed at strengthening healthcare infrastructure and improving the delivery of health services across the country.
It disclosed that while the original bond issuance stood at approximately US$253.2 million, the outstanding principal had reduced to about US$117.8 million as of January 2026.
The Finance Ministry said the completion of the exchange demonstrates government’s continued commitment to restoring debt sustainability after years of fiscal pressures that necessitated comprehensive debt restructuring negotiations with both domestic and external creditors.
It noted that the latest development is expected to strengthen investor confidence in Ghana’s economy while reinforcing the country’s efforts to maintain macroeconomic stability.
According to the Ministry, resolving the final outstanding sovereign bonded debt component represents an important achievement under the government’s economic recovery agenda and reflects sustained engagement with creditors to restore confidence in the country’s public finances.
“The completion of this exchange underscores Government’s commitment to restoring debt sustainability, strengthening investor confidence, and maintaining macroeconomic stability,” the statement added.
The Ministry further reaffirmed its commitment to prudent debt management and sound public financial management practices, stressing that government remains focused on implementing policies that will safeguard Ghana’s long-term macroeconomic stability.
It said prudent borrowing, responsible fiscal management and continued economic reforms remain central to government’s strategy to ensure that the gains made through the debt restructuring process are sustained.
Ghana has been implementing an extensive debt restructuring programme as part of wider economic reforms aimed at easing debt servicing pressures, restoring fiscal discipline and supporting long-term economic growth.
With the successful exchange of the outstanding SADEREA Notes, the Ministry believes the country has taken another decisive step towards concluding its external debt restructuring programme, paving the way for improved fiscal stability and renewed confidence among investors and international partners.
CREDIT: MAVIS FANTEVI