Peter Quartey, an Economist Professor, has told the Finance Minister Dr Cassiel Ato Forson, that the early repayment of the Eurobond is a positive signal to international investors and financial markets but must match with timely release of domestic funds.
According to Prof Peter Quartey, the Mahama government should demonstrate the same level of commitment to funding critical public institutions that deliver essential services.
He argued that the early repayment should be extended to the local economy, like the institutions, the assemblies and other ministries and departments that are lacking funding to undertake activities.
Professor Peter Quartey is quoted to have said, “But I would like to add that we should extend the same to the local economy, I mean, to institutions, the assemblies and other ministries, departments and agencies.
“The lack of funding to undertake activities, including waste management, including flood-related issues, we should extend the same kind of commitment to them. But otherwise, certainly a positive signal.”
His comments come on the heels of the Ministry of Finance’s announcement that Ghana had settled a US$700 million Eurobond debt service obligation ahead of schedule.
Dr Cassiel Ato Forson, Ghana’s finance minister, on July 6, 2026 announced that the Government of Ghana has settled a US$700 million Eurobond obligation ahead of its scheduled maturity.
According to the Ministry of Finance, the payment was made on Thursday, July 2, 2026, and comprised US$525.2 million in principal repayments and US$174.8 million in interest.
In a statement issued on July 6, 2026, the Finance Ministry detailed that with this latest transaction, Ghana has now paid a total of US$2.1 billion to Eurobond holders since January 2025, which is in line with the country’s Eurobond Debt Exchange Programme.
The Finance Ministry disclosed that the payment was executed through planned government financing arrangements, which did not place pressure on the country’s foreign exchange reserves.
Parts of the Finance Ministry press release read, “The payment was made through the Government’s planned financing arrangements without undue pressure on the country’s foreign exchange reserves. The settlement reduces Ghana’s outstanding Eurobond debt, strengthens investor confidence, and demonstrates the Government’s commitment to prudent debt management and macroeconomic stability.
The Ministry of Finance will continue to implement sound public financial management practices to ensure the timely servicing of Ghana’s debt obligations. The Ministry expresses its gratitude to the people of Ghana for their continued patience, support, and confidence,” the statement added.
In related news, Ato Forson has stated that his appetite is not going into the capital market just to borrow.
Ato Forson revealed he has no intention to rush back to the international capital market for loans.
He emphasised that Ghana must break the cycle of reckless borrowing, adding that borrowing must be deliberate and growth-focused.
According to Ato Forson, Ghana’s problem has always been borrowing, adding that the country sometimes borrows just for consumption.
See the post below:
GOVERNMENT OF GHANA SETTLES US$700 MILLION EUROBOND OBLIGATION! pic.twitter.com/l5a22OokB5
— Cassiel Ato Forson (PhD) (@Cassielforson) July 6, 2026
