As part of the Republic of Ghana’s (the "Republic") efforts to address the country’s ongoing economic crisis, on 5 December 2022, it launched a domestic debt exchange pursuant to which it invited (the “Invitation”) certain holders of approximately GHS137.3 billion of principal amount outstanding of certain of its domestic notes and bonds issued by the Republic, E.S.L.A. Plc or Daakye Trust Plc (the “Eligible Bonds”) to exchange their Eligible Bonds for a package of new bonds to be issued by...
Suspension of Payments on Selected External Debts of the Government of Ghana
Ghana is today faced with major economic and financial crisis, and its attendant social challenges. In 2020 and 2021, the covid-19 pandemic negatively impacted our fiscal and economic situation. Global risk aversion triggered large capital outflows, a loss of external market access and rising domestic borrowing costs.
Extension of The Expiration Date for The Domestic Debt Exchange Program (DDEP) to December 30, 2022
On 6th December 2022 our domestic debt operation (which we formally refer to as the Invitation to Exchange) was launched. Over the last ten days, we continued the consultation efforts that we initiated with all stakeholders ahead of the launching of the offer, including regulators, bankers, pension funds, asset managers, insurance companies etc.
2023 Citizens Budget
This year would undoubtedly go down as one of the most challenging in the economic history of our country. Like the rest of the world, we were hit with the COVID-19 pandemic in the first quarter of 2020, which resulted in a slowdown in economic activity, leading to a reduction in our revenues and unbudgeted additional costs associated with fighting the pandemic.
Government launches Ghana CARES Economic Enclave Project to Reduce Staple food Importation
The President of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo has launched the Economic Enclave Project (EEP) under the Ghana CARES programme at Noyaa Akutso in Kasunya-Nyaphienya, in the Greater Accra Region.
Ghana’s Domestic Debt Exchange 2022 – Exchange Memorandum
On behalf of the Government of Ghana, I wish to set out the background of a debt exchange programme that will allow our country to restore sound public finance and sustainable debt levels, and to kickstart economic growth following the impact of the COVID-19 pandemic.