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Ghana Completes $13 Billion Eurobond Restructuring

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Ghana recently completed the restructuring of about $13 billion of its Eurobond debt, marking a significant milestone in its efforts towards financial recovery and debt sustainability.

Over 98% of bondholders participated in the debt restructuring, showcasing strong support from creditors. This high participation rate is crucial for the success of such financial maneuvers.

The restructuring involved a haircut on the principal, with the rate increased to 37% from an earlier proposal of 33%. This adjustment in terms was part of negotiations to meet the requirements set by the International Monetary Fund (IMF) for further financial support.

This restructuring is a key step in Ghana’s broader economic strategy under its IMF programme, aiming to reduce its debt-to-GDP ratio to around 55% by 2028, which is part of the conditions for ongoing IMF support and reviews.

The successful restructuring is seen as turning a page for investors in Ghana, potentially signaling a return to international financial markets with renewed confidence.

This move is expected to help normalize relations with international capital markets, providing Ghana with better access to global financing.

Bondholders had options including a “Disco menu” of new notes and a “Par menu” with a cap, indicating a structured approach to manage the debt overhaul while offering flexibility to investors.

This restructuring not only addresses immediate financial pressures but also aims to restore investor confidence, paving the way for economic recovery and potentially more favorable terms in future borrowings.

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  1. criac~ao de conta na binance

    January 19, 2026 at 5:08 am

    Your point of view caught my eye and was very interesting. Thanks. I have a question for you.

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Minister Didier Budimbu honors Michel Kuka, alias Lumumba Vea

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The Democratic Republic of Congo’s Minister of Sports and Recreation, Didier Budimbu, officially honored Michel Kuka (also known as Michel Nkuka Mboladinga), popularly called Lumumba Vea, by presenting him with a Jeep (specifically a Jetour model, such as a Jetour Dashing SUV or similar 4×4).

This gesture was in recognition of Lumumba Vea’s iconic and viral support for the DR Congo national football team (Les Léopards) during the Africa Cup of Nations (AFCON) 2025 held in Morocco.

Michel Kuka, alias Lumumba Vea

Michel Kuka, alias Lumumba Vea with his iconic celebration at AFCON 2025 in Morocco

He gained widespread fame and admiration across Africa for his unique, silent style: standing motionless like a statue throughout entire matches, paying tribute to Patrice Émery Lumumba (the DR Congo’s independence hero and first prime minister).

His solemn, unwavering presence in the stands turned him into a symbolic “12th man” for the team, an ambassador for the Bloc Léopards supporters’ group, and a powerful emblem of national pride, unity, and historical memory.

The minister had promised the vehicle during the tournament (reportedly in Casablanca), and he fulfilled it in a ceremony.

This well-deserved tribute highlights the impact ordinary passionate supporters can have beyond the pitch.

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Ghana Clears $1.47 Billion Energy Debts, Restores World Bank Guarantee

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Power Sector
The Ministry of finance paid a total of approximately $1.47 billion in 2025 to clear longstanding legacy debts in the energy sector.
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The Ministry of Finance announced that the government, under President John Dramani Mahama, paid a total of approximately $1.47 billion in 2025 to clear longstanding legacy debts in the energy sector.

This major payment has successfully restored the World Bank’s Partial Risk Guarantee (valued at around $500 million), which had been depleted under the previous administration.

The guarantee, originally established to support the Sankofa Gas Project (Offshore Cape Three Points field), was critical for attracting nearly $8 billion in private investment for gas supplies and power generation.

 

 

Key Breakdown of the Payments

  • $597.15 million (including interest) fully repaid to the World Bank, reinstating the guarantee in full and reaffirming Ghana’s credibility as a reliable partner globally.
  • Around $480 million to settle outstanding gas invoices with suppliers like ENI and Vitol.
  • About $393 million in legacy arrears to Independent Power Producers (IPPs), including companies such as Karpowership and Cenpower.

This settlement addresses chronic issues that contributed to power supply instability (often referred to as “dumsor”) and threatened fiscal stability. By clearing these obligations, the government aims to stabilize electricity generation, lower long-term power costs, reduce interest burdens, and boost investor confidence in Ghana’s energy sector.

Finance Minister Cassiel Ato Forson described the energy sector as fragile when the current administration took office, and this decisive action marks a “turnaround” for reliable power and economic growth. Independent Power Generators (IPGs) have reportedly commended the move as a major step toward sector stability.

 

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Ghana’s Ex-Finance Minister Detained by ICE in U.S

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Ken Ofori-Atta
Ghana's former Finance Minister, Kenneth Nana Yaw Ofori-Atta
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Ghana’s former Finance Minister, Kenneth Nana Yaw Ofori-Atta, has been detained by U.S. Immigration and Customs Enforcement (ICE). This development occurred on January 6, 2026, with his lawyers confirming the detention the following day (January 7). He is currently held at the Caroline Detention Facility in Virginia, and a court hearing is reportedly scheduled for January 20, 2026.

Ken Ofori-Atta

Letter of detention

 

Key Details

  • Reason for Detention: Reports indicate issues related to his immigration status, including overstaying his visa or a revoked visa. Some sources (including Ghana’s Deputy Attorney General) clarify that his U.S. visa was revoked in mid-2025 (around June/July), with a deadline to leave by late November 2025. He had been in the U.S. since January 2025, initially for medical treatment (including prostate cancer surgery), and had applied to regularize or extend his stay.

 

  • His Lawyers’ Statement: They describe him as cooperating fully with authorities and expect the matter to be resolved “expeditiously.” He was reportedly arrested during a targeted operation while leaving a luxury apartment in Washington, D.C.

 

  • Ghanaian Government Involvement: Ofori-Atta has been a fugitive in Ghana since February 2025, declared wanted by the Office of the Special Prosecutor (OSP) on multiple corruption-related charges (including conspiracy to commit procurement fraud, causing financial loss to the state, and involvement in scandals like the SML case). He faces dozens of counts and was placed on an Interpol Red Notice. Ghana formally requested his extradition from the U.S. in late 2025. While the current detention is immigration-related, some officials suggest it ties into cooperation on the extradition process.

 

  • Ghana Embassy Response: The Embassy in Washington, D.C., confirmed the detention, requested consular access, and is engaging U.S. authorities to ensure his rights are respected. However, Ofori-Atta declined to meet consular officials without his lawyers present.

 

This case has sparked significant discussion in Ghana, with reactions ranging from calls for swift extradition and justice to speculation about his future (e.g., possible deportation, asylum attempts on health grounds, or resolution of his U.S. status). The situation remains ongoing, with his legal team working to address the immigration issues.

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