Ghana completes final phase of external debt restructuring with SADEREA notes exchange

Ghana has successfully concluded the final outstanding component of its external debt restructuring programme after completing the exchange of the remaining SADEREA Notes, the Ministry of Finance has announced.

In a statement, the Ministry said the transaction was settled on July 13, 2026, with an effective value date of July 10, 2026, bringing the country’s sovereign bonded debt restructuring process to its final stage.

The completion of the exchange represents a major milestone in Ghana’s efforts to restore economic stability and conclude its comprehensive external debt restructuring programme.

The SADEREA Notes are 12.5% Senior Secured Amortising Bonds that were originally issued to finance capital projects in Ghana’s health sector. Out of the initial US$253.2 million issued, about US$117.8 million in principal remained outstanding as of January 2026.

According to the Ministry, the successful completion of the transaction demonstrates government’s commitment to restoring debt sustainability, boosting investor confidence and preserving macroeconomic stability.

Officials described the development as a significant achievement in Ghana’s ongoing economic recovery agenda, noting that it strengthens efforts to rebuild the country’s financial resilience after the debt restructuring process.

The Ministry further reaffirmed government’s commitment to responsible debt management, prudent public financial administration and the implementation of policies aimed at ensuring long-term economic stability and sustainable public finances.

Prince Antwi

See Full Bio