Sanaa:Ghana faces the challenge of paying $6.4 billion in Eurobond principal and interest from 2027 to 2030, despite having completed a debt restructuring.
According to Ghana Web, this debt restructuring occurred in October 2024, allowing Ghana to replace bonds it could no longer repay under the original terms with new bonds featuring revised payment arrangements. While this provided some relief, the obligation to make substantial payments remains.
The World Bank's October 2026 Africa Economic Update ranks Ghana and Nigeria behind South Africa in terms of Eurobond payment obligations. Both Ghana and Nigeria face $6.4 billion in payments, while South Africa's obligations are higher at $11.8 billion.
Eurobonds are loans raised by governments from international investors, requiring them to pay interest and repay principal under set terms. Many African governments have resorted to taking new loans to repay maturing Eurobonds, although this often results in higher costs.
In addition to Ghana, other countries face significant payment obligations between 2027 and 2030. Angola needs to pay $3.9 billion, Kenya $3.2 billion, Côte d'Ivoire $2.8 billion, and Zambia $2.2 billion. Despite easing some immediate pressure, Ghana must still prepare to meet its substantial Eurobond obligations over the next several years.