Technical Advisor to the Finance Minister, Dr Theo Acheampong, has clarified that Ghana’s recent early debt settlements should not be interpreted as a sign that the country is preparing to return to the international bond market anytime soon.

Speaking in an interview on Joy FM's Midday News on Monday, July 6, on the government’s latest Eurobond repayments, Dr Acheampong said the decision to settle portions of Ghana’s external debt ahead of schedule was instead aimed at taking advantage of favourable market conditions, reducing future debt service costs, and signalling the country’s commitment to honouring its obligations.

“That does not mean that. Far from that,” he said, when asked whether the early payments suggested Ghana was ready to re-enter the international bond market.

He explained that both the Finance Minister and other government officials had consistently maintained that any return to the market would depend on the timing and broader economic conditions.

“Both my minister and other people in government have indicated very clearly that we will go to the market when the timing suits us,” he said.

$700m latest settlement

Dr Acheampong disclosed that Ghana recently settled $700 million in Eurobond obligations, comprising $525 million in principal and $175 million in interest.

According to him, the latest payment forms part of a broader post-restructuring debt repayment programme that has seen the country pay close to $2.5 billion in principal and interest since the completion of the Eurobond debt exchange programme.

“For the press release that we issued this morning, specifically on the $700 million that was settled, the interest on it is $175 million, and the principal on it is $525 million, bringing the total to $700 million,” he stated.

He added that by January 2025, Ghana had already redeemed $2.1 billion in both principal and interest under the restructured debt programme.

Dr Acheampong further revealed that the government has already cleared all Eurobond payments expected for 2026, amounting to $1.4 billion.

He said the early settlement was made possible by a favourable external environment, which allowed government to move ahead of schedule in meeting its debt obligations.

“For 2026, the expectation was that we would repay $1.4 billion, and we took advantage of the timing that the favourable external environment presents, and that $1.4 billion has all been cleared or settled for this year,” he said.

He noted that the policy direction was intended to reassure investors and the broader international financial community that Ghana remains committed to repaying its debts as they fall due.