The Ministry of Finance has indicated that it was nearing the final stage of Ghana's external debt restructuring, with the successful exchange of the outstanding SADEREA Notes.
According to the Ministry, the transaction settles the last outstanding portion of Ghana's sovereign bond debt restructuring, ending a process that began after Ghana's debt default in 2022.
In a statement issued on Monday, July 13, 2026, the Ministry said the exchange was settled on July 13, 2026, with a value date of July 10, 2026.
The statement explained that the SADEREA Notes were 12.5 per cent Senior Secured Amortising Bonds issued in 2014 through Saderea Designated Activity Company to finance capital expenditure in Ghana's health sector. Of the original US$253.2 million issued, about US$117.8 million in principal remained outstanding as of January this year.
Under the agreement, holders of the notes received newly issued Government of Ghana securities comprising Step-Up Coupon Amortising Notes due in 2035 and 1.5 per cent Amortising Notes due in 2037 in exchange for their SADEREA holdings.
According to the Ministry, creditors representing more than two-thirds of the outstanding bonds accepted the exchange terms, meeting the legal requirement to make the agreement binding on all remaining bondholders.
It said the transaction marks the final phase of Ghana's external debt restructuring programme, following the successful completion of the country's Eurobond debt exchange in 2024.
The Ministry said the completion of the exchange supports efforts to restore debt sustainability, strengthen investor confidence and maintain macroeconomic stability.
It added that the government would continue to pursue prudent debt management and sound public financial management to maintain long-term economic stability.
The completion of the SADEREA exchange comes as Ghana continues implementing economic reforms under the International Monetary Fund-supported programme aimed at restoring macroeconomic stability and returning the economy to sustainable growth.
