The government is progressing in resolving external debt obligations by engaging in a constructive private discussions with creditors holding almost all the Saderea Limited bonds.

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‎On January 6, the Ministry of Finance announced that discussions were held with an ad hoc committee of Saderea Notes holders, representing approximately 97.5 percent of the outstanding bonds.

The Finance minister: Dr. Atto Forson

The discussions centered on a proposed debt treatment framework that may underlie a more comprehensive agreement, as Ghana proceeds with negotiations after its 2024 Eurobond Debt Exchange.

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‎Both sides discussed a "joint working scenario" for mutual understanding on financial terms, indicating that the proposal requires further refinement and negotiation.

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‎Ghana's government and creditor group consider the proposed framework for the 2024 Eurobond exchange to align with the principle of Comparability of Treatment, following concessions from Saderea bondholders, crucial for the country's debt restructuring program.

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‎The Ministry of Finance announced that the OCC Secretariat is evaluating if the proposed terms align with the established comparability metrics.

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‎The government and the Saderea Ad Hoc Committee will continue discussions to seek a potential agreement, although there is no assurance that these talks will lead to a final deal.

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‎The Government and the Saderea Ad Hoc Committee plan to persist in discussions regarding the joint working scenario and related issues concerning a potential agreement.

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‎Any agreement will require further review, reconciliation of outstanding amounts, and consent from all Saderea noteholders.

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‎The government expressed appreciation to the creditors for their approach to the negotiations.

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‎The government thanks the Saderea Ad Hoc Committee for its constructive engagement over the past three weeks.

The Saderea Notes, issued by Saderea Limited, feature a high interest rate and mature in 2026, playing a vital role in Ghana's external debt negotiations aimed at achieving debt sustainability and macroeconomic stability.

The government is in talks with Saderea bondholders about restructuring debt.