Finance Minister, Dr. Mohammed Amin Adam, has expressed confidence in the government’s ability to meet all obligations on restructured debts within the next two years, following the country’s improving economic outlook.
Addressing journalists at the monthly economic press briefing, he pointed to significant strides made in the past months as evidence of an economic rebound.
He assured that individuals and businesses affected by the debt restructuring would soon recover their investments.
“I do not have any doubt that in a year or two, those who have lost money will recover their money,” Dr. Adam said.
On the international front, Dr. Adam noted the government’s commitment to honoring Eurobond payments. Following the successful settlement of $520 million in October 2024, he disclosed that preparations are advanced to pay off the next coupon due in January 2025.
“Our next coupon payment will be 2nd January; we are ready. We are not going to default; we are ready,” he declared.
Dr. Adam also painted a positive picture of Ghana’s economic trajectory, emphasizing the significant growth in the economy’s nominal size over the years.
“It is instructive to mention that, while the nominal size of the Ghanaian economy was 56 billion USD in 2016, by the end of 2023, the nominal size increased to 76 billion USD, representing an increase of 20 billion USD in seven years,” he highlighted.
He further hinted that the economy is set to expand even further by the close of 2024 when official data becomes available.
