Ghana Moves Closer to Completing External Debt Restructuring After Successful SADEREA Notes Exchange

The Government has taken a major step towards completing its external debt restructuring programme following the successful exchange of its outstanding SADEREA Notes.

In a statement issued by the Ministry of Finance on July 13, 2026, the government said the exchange offer was settled on the same day, with the value date backdated to July 10, 2026.

The Ministry described the transaction as the final stage of Ghana’s broader external debt restructuring process, resolving the last outstanding component of the country’s sovereign bonded debt.

The notes involved were 12.5% Senior Secured Amortising Bonds originally issued to support capital expenditure projects in Ghana’s healthcare sector. Of the initial US$253.2 million issuance, about US$117.8 million in principal remained outstanding as of January 2026.

The Ministry of Finance said the successful completion of the exchange reinforces government’s efforts to restore debt sustainability, rebuild investor confidence and maintain long-term macroeconomic stability.

It added that government remains committed to prudent debt management and sound public financial management as Ghana transitions beyond the restructuring process.

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