The Government of Ghana has announced that the payment of coupons and principals of old bonds will resume on March 14, 2021. This follows the suspension of the payment in December of 2020, during the global economic downturn caused by the coronavirus pandemic.
According to the statement released by the Bank of Ghana, the payment is necessary to help boost the economy and ensure that bondholders receive the full value of their investments. The Bank of Ghana also noted that the cessation of payment in December was to reduce the fiscal strain on the government.
The Bank of Ghana further stated that the payment of coupon and principals, which was scheduled to resume in February 2021, has been postponed to March 14, 2021, to ensure a smooth transition. It said all coupon payments due from December through March would be paid at the same time when the payment resumes.
The Bank of Ghana also urged bondholders to ensure that their bank details are up to date to ensure that their payments are received on time. It assured bondholders that it would continue to monitor the situation closely and keep them informed of any developments.
