The government has announced the successful settlement and conclusion of its alternative offer to Pension Funds bondholders regarding Ghana-denominated notes and bonds.

The Ministry of Finance in a statement dated September 7, said “This successful result is a significant achievement for the Government as it pursues its macroeconomic stabilization policies under the IMF-supported Post-COVID-19 Programme for Economic Growth (PC-PEG)”.

The Finance ministry in the statement added that a payment of GHS2,060.72 million was made to holders of Exchange Bonds in respect of their Treasury Bonds as if such Exchange Bonds had been issued on 21 February 2023 and held by such holders as of 22 August 2023.

“On 5th September 2023, as set forth in the Exchange Memorandum, a payment of GHS2,060.72 million was made to holders of Exchange Bonds in respect of their Treasury Bonds as if such Exchange Bonds had been issued on 21 February 2023 and held by such holders as of 22 August 2023 (the first interest payment date under the Existing Exchange Series).

In addition, on the same date a payment of GHS274.91 million was made to holders of Exchange Bonds in respect of their ESLA Bonds and Daakye Bonds as if such Exchange Bonds had been issued on 21 February 2023 and held by such holders as of 22 August 2023 (the first interest payment date under the Existing Exchange Series), taking into account prior payments received by holders of ESLA Bonds and Daakye Bonds after 21st February 2023,” the Finance Ministry said in its statement.