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Ghana has successfully completed the final phase of its external debt restructuring programme following the exchange of the remaining SADEREA Notes, according to the country’s Ministry of Finance.
The transaction, which was settled on July 13, 2026, with a value date of July 10, 2026, resolves the last outstanding component of Ghana’s sovereign bonded debt restructuring and marks a major milestone in the country’s ongoing economic recovery efforts.
With the completion of the exchange, Ghana moves closer to fully concluding its comprehensive external debt restructuring programme, a key element of broader reforms aimed at restoring fiscal stability and rebuilding investor confidence.
The SADEREA Notes consist of 12.5 per cent Senior Secured Amortising Bonds that were originally issued to support capital investments in Ghana’s healthcare sector. Of the initial US$253.2 million raised through the bond issuance, approximately US$117.8 million in principal remained outstanding as of January 2026.
According to the Ministry of Finance, the successful restructuring of the notes demonstrates the government’s commitment to achieving long-term debt sustainability, strengthening market confidence, and maintaining macroeconomic stability.
Government officials described the completion of the transaction as a significant step towards reinforcing Ghana’s economic resilience and creating a stronger foundation for sustainable growth. They noted that the broader debt restructuring programme is designed to place public finances on a more sustainable path while supporting economic recovery and development objectives.
The Ministry further reiterated its commitment to prudent debt management practices, sound public financial governance, and the continued implementation of policies aimed at safeguarding the country’s long-term economic stability.
The successful conclusion of the SADEREA Notes exchange represents a critical achievement in Ghana’s efforts to restore fiscal health, improve financial sustainability, and strengthen the confidence of investors and development partners in the country’s economic outlook.
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