The government has announced suspension of all debt service payments under certain categories of external debt, pending an orderly restructuring of the affected obligations.
The suspension will include the payments on Eurobonds, commercial term loans, and on most bilateral debt.
This suspension, it said in a statement from the Finance Ministry, will not include the payments of multilateral debt, new debts (whether multilateral or otherwise) contracted after December 19, 2022 or debts related to certain short term trade facilities.
“We are also evaluating certain specific debts related to projects with the highest socio-economic impact for Ghana which may have to be excluded. This suspension is an interim emergency measure pending future agreements with all relevant creditors”, the statement explained.
The statement added that the government stands ready to engage in discussions with all of its external creditors to make Ghana’s debt sustainable through a fair, transparent and comprehensive debt restructuring exercise in line with international best practices.
Accordingly, the Ministry of Finance will hold an investor presentation at a date to be announced at a later stage.
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