Press Release

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...

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.

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.

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.

The Republic of Ghana (the "Republic" or “Ghana”) announced today that it is inviting Eligible Holders (as defined below) to exchange (the “Invitation”) approximately GHS137.3 billion of the domestic notes and bonds of the Republic, E.S.L.A. Plc and Daakye Trust Plc specified in Table A below (the “Eligible Bonds”) for a package of New Bonds (as defined below) to be issued by the Republic

In the Budget Statement presented to Parliament on November 24th, I announced that government will undertake a debt operation programme. The broad contours of the Debt Sustainability Analysis has been concluded and I am here this evening to provide some details on ...

The Government of Ghana and the Government of the Federal Republic of Germany have concluded bilateral negotiations on development cooperation in Berlin from 28th to 29th November 2022.

The Ministry of Finance provides the following update on the progress of technical work on possible debt operations, as part of ongoing negotiations with the International Monetary Fund (IMF or the Fund). This update follows statements made on the sides of the presentation of the 2023 budget in Parliament on Thursday 24th November, 2022.

In accordance with Article 179 of the 1992 Constitution and section 21 of the Public Financial Management Act, 2016 (Act 921) the Minister for Finance will, on behalf of the President, lay before Parliament the 2023 Annual Budget Statement and Economic Policy of Government on Thursday, 24th November, 2022.

The Ministry notes that in recent days, a number of persons have been making false claims about the ongoing negotiations with the International Monetary Fund (IMF or the Fund).