News
Ahafo yet to record COVID-19 positive case … as national hits 7,303
The Ahafo Region is now the only one out of the 16 administrative regions in the country that has not recorded any COVID-19 case although the national tally has reached 7,303.
This was after its counterpart, the Bono East Region, recorded its first case this week, according to the Director of Public Health at the Ghana Health Service, Dr Badu Sarkodie.
At yesterday’s COVID-19 briefing in Accra, he said details would be made public in the ensuing days because information about the new case was received moments before the briefing.
As of May 26, Dr Sarkodie said 2,412 patients had recovered with the death toll at 34, bringing the active cases (persons known to be living with the virus currently) to 4,857.
He said the national tally went up after 186 new cases were recorded in 31 districts in four regions; Greater Accra had 140, Central-23, Ashanti -14 and Eastern, nine.
He said 14 of the active cases were severely ill but not on ventilators while three were critically ill.
Greater Accra, he said, continues to have the highest number of cases of 5,148 Ashanti – 1,099; Central- 360, Western Region – 344, Eastern- 117, Western North Region – 62 and Volta-59.
According to the director of public health, the Northern Region had recorded 36 cases, Oti – 26, Upper East Region-26, Upper West– 22North East– 2; Savannah– and Bono one each.
He described that fact that Tema and Obuasi, which had earlier been declared as hotspots for the virus, had not record any new cases, an indication that response actions by the management team were yielding results.
Asked why the country’s daily cases were not declining sharply, Dr Sarkodie explained that it was because people were not strictly adhering to the hygienic protocol.
He, therefore advised the public to play their part to reduce cases.
On the Wednesday’s mishap on the GHS website, in which the case count was changed after less than an hour, he said it was a technical error and he apologised for it.
BY JONATHAN DONKOR
News
Ghana achieves 98% participation in Eurobond debt restructuring
The Ministry of Finance has announced the successful completion of its Eurobond debt exchange and consent solicitation process.
The initiative, which aims to restructure Ghana’s Eurobond debt, has received overwhelming support from bondholders, marking a significant milestone in the country’s economic recovery efforts.
Launched on September 5, 2024, the offer invited eligible holders of Ghana’s Eurobonds to exchange their existing bonds for new ones under two menu options—Par and Disco.
As of the final expiration deadline on September 30, 2024, 98.6% of bondholders, representing the recognized principal amount of the existing bonds, participated in the offer.
During the bondholder meetings on Thursday, October 3, holders of the 2013, 2014, and 2015 WB-Guaranteed Notes passed extraordinary resolutions with over 90% representation, enabling the restructuring process to proceed smoothly.
Meanwhile, for Aggregated CAC Notes, consents exceeded 98.7%, meeting the required thresholds for the exchange.
A majority of bondholders (91% of the principal amount) opted for the Disco menu of new notes, while 7.6% chose the Par menu, which remained under its cap of U.S. $1.6 billion, leaving a balance of U.S. $605 million available for future allocation.
Subject to the terms of the exchange, a total of U.S. $126 million in consent fees will be distributed to eligible bondholders who submitted their instructions by the early consent deadline.
The new bonds are expected to be issued on or around October 9, 2024, with full settlement to follow shortly thereafter.
The successful completion of this exchange is a critical step in Ghana’s broader debt restructuring efforts under its International Monetary Fund (IMF) programme, further strengthening the country’s path towards debt sustainability and normalizing relations with international capital markets.
The Government of Ghana expressed gratitude to bondholders for their participation and support, emphasizing that this successful outcome reflects a shared commitment to restoring the country’s economic stability.
In preparation for the issue date, all existing Eurobonds, including those for which no consent or exchange instructions were given, will be blocked from trading to ensure a smooth final settlement.
Source: Citinewsroom.com
News
Update on Nana Asante Bediatuo’s health
The Office of the President has responded to news making rounds regarding the health of Secretary to the President, Nana Asante Bediatuo.
According to the office in a statement, they wish to inform the public about the health status of Nana Bediatuo Asante, Secretary to the President.
They revealed that following the conclusion of the meeting of the 79th United Nations General Assembly (UNGA) in New York, in the United States of America, where he served as a key member of President Akufo-Addo’s delegation.
The statement added that Nana Bediatuo Asante stayed behind to conduct further government business.
They added that he then began to feel unwell, and was subsequently admitted to hospital.
According to the statement, he is currently in stable condition and responding well to treatment. The medical team added that, Nana Bediatuo Asante’s recovery is on track, and we remain hopeful for his swift return to full strength.
“We ask for continued prayers and support for him and his family during this difficult period. Further updates will be provided when necessary,” he concluded.
By Edem Mensah-Tsotorme
