Ghana Nears Completion of External Debt Restructuring with Successful SADAREA Notes Exchange

The Ministry of Finance has announced the successful exchange of outstanding SADAREA Notes, marking a significant step toward completing Ghana’s external debt restructuring programme.

In a press release issued today, the Ministry stated that the exchange was settled on July 13, 2026, with a value date of July 10, 2026. This development brings the country to the final stage of its external debt restructuring efforts, resolving the last outstanding component of its sovereign bonded debt restructuring.

A Major Milestone in Economic Recovery

The successful transaction is being hailed as a major milestone in Ghana’s economic recovery journey. According to the Ministry, the completion of the SADAREA Notes exchange demonstrates the government’s commitment to restoring debt sustainability and strengthening investor confidence while maintaining macroeconomic stability.

The new 12.5% Senior Secured Amortising Bonds were issued to finance capital expenditure specifically in Ghana’s health sector. Of the original US 117.8 million in principal remained outstanding as of January 2026.

Government Commitment to Prudent Debt Management

The Ministry of Finance emphasized that this achievement underscores the government’s ongoing dedication to prudent debt management and sound public financial practices.

“The completion of this exchange underscores Government’s commitment to restoring debt sustainability, strengthening investor confidence, and maintaining macroeconomic stability,” the release stated.

The Ministry reaffirmed its resolve to implement policies that safeguard long-term macroeconomic stability.

What This Means for Ghana

This latest development is expected to provide further breathing room for Ghana’s economy following previous debt restructuring agreements. By addressing the remaining portion of its bonded external debt, the government aims to improve its fiscal position and create a more predictable environment for future borrowing and investment.

The successful exchange is likely to be viewed positively by international investors and credit rating agencies, potentially paving the way for improved access to international capital markets.

Issued by the Public Relations Unit, Ministry of Finance.