President Nana Addo Dankwa Akufo-Addo has announced that the government has begun the process of settling arrears owed to coupon holders, starting today, January 3, 2024.

Delivering his final State of the Nation Address (SONA) to Parliament, the outgoing President revealed that $346 million has been allocated to fulfil this obligation, emphasizing the government’s dedication to honouring its financial commitments to creditors.

"We cannot afford to default on the payment of our debts," President Akufo-Addo stated, stressing the importance of maintaining Ghana’s fiscal credibility.

The President also urged the incoming Minister of Finance to uphold this responsibility and ensure that future debt payments are not delayed.

"This commitment must continue under the new administration to sustain confidence in our financial system and meet the expectations of our creditors," he added.

He was of the view that this payment forms part of the government’s broader effort to address outstanding financial obligations as he concludes his tenure.