Finance Minister Dr. Mohammed Amin Adam, has assured Ghanaians affected by investment losses tied to the debt restructuring program, initiated in response to the economic challenges caused by COVID-19, that their losses will be recovered by the end of 2026.
Speaking at a monthly press briefing on Tuesday, December 3, 2024, Dr. Amin Adam expressed confidence in the government’s long-term economic strategies, emphasizing their potential to drive economic recovery and improve key macroeconomic indicators.
He reaffirmed the government’s commitment to restoring the investments of those impacted, promising a positive turnaround in the coming years despite the current difficulties.
“I do not have any doubt that in a year or two, those who have lost money will recover their money. I know they will be smiling to the bank. It has taken us a lot of effort to bring this economy back to this state. Many people doubted, but I want to reassure you that this recovery is not by accident but by strong policies” he said.
Dr. Mohammed Amin Adam, provided an update on Ghana’s debt restructuring efforts, reaffirming the government’s commitment to honoring all restructured debts in light of the economy’s improving outlook. He cited recent strong economic performance as a key factor enabling the timely settlement of financial obligations.
Dr. Adam announced that the government remains on course to meet its obligations to Eurobond holders ahead of the January 2025 maturity date. This marks the second consecutive milestone in fulfilling debt commitments.
He also highlighted the successful payment of $520 million in coupon obligations in October 2024, underscoring the government’s determination to uphold its creditworthiness.
Our next coupon payment will be 2nd January, we are ready. We are not going to default, we are ready,” he emphasized.