<<Print>>

Ghana's Eurobond restructuring effort has gained significant traction, with over 90 percent of investors participating in the country's consent solicitation, a source at the Ministry of Finance has confirmed to the Graphic Business.

This high level of engagement marks a crucial step in Ghana's debt restructuring process.

The source said the ministry would soon issue a statement to provide more details soon.

Ghana last month launched a consent solicitation and exchange offer on the London Stock Exchange.

The launch was to seek the consent from Eurobond investors who the country owes $13 billion to amend the original terms of the bond.

The consent solicitation comes on the back of a recent agreement with Eurobond holders which will see the investors take a 37% haircut on their investments, and a suspension of coupon payments until 2026.

The offer was opened for 21 days and will expired on September 30.