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Ghana missions abroad donate $100,000 to NMIMR … Ghana’s High C’ssioner to India gives 100,880 test kits
Ghana missions abroad have donated an amount of $100,000 to the Noguchi Memorial Institute for Medical Research (NMIMR) to assist in its pioneering role in dealing with the coronavirus (COVID-19) pandemic.
Besides these collective contributions from the Ghana missions abroad, an additional support of 100,880 test kits from Ghana’s High Commissioner to India, Mike Oquaye Jnr was extended to the research institute as a personal donation to help fight the pandemic.
Presenting the donation on behalf of the Ghana missions abroad at a brief ceremony in Accra yesterday, Mr Oquaye Jnr noted that, the vital role of NMIMR in combating the novel coronavirus deserves every support from corporate Ghana.
He added that with government’s strategy to test more people, the resources of NMIMR could deplete at a faster rate and facilities overstretched, hence the need to support the institute to acquire the requisite resources to carry out its mandate to curb the spread of the virus in the country.
Mohammad Habibu Tijani, Deputy Minister of Foreign Affairs, and Regional Integration, who was present to grace the occasion, expressed joy over the good job being done by NMIMR, and encouraged every Ghanaian to show interest in what they are doing.
He assured of government’s commitment to ensuring that Ghanaians who are stranded abroad, due to the COVCID-19, are brought back to the country.
“We’re working around the clock, and based on the advise of the experts; we’ll open the borders to allow Ghanaians who are caught up outside, due to the pandemic, are brought back. We’ve taken data of those who want to come back and would assure them that, government would do everything possible to ensure that they are brought back safely,” he added.
The Director of NMIMR, Prof. Abraham Kwabena Annan, commended the Ghana missions abroad for the donation, which he said would go a long way to enhance its efforts.
He urged every individual Ghanaian to take the precautionary measures seriously, and adhere to them to avoid further spread of the virus.
“As a nation we have to make sure one person’s infection does not affect the other person, so what we have to do is to respect the preventive measures put in place and that would help reduce the spread,” he added
BY VIVIAN ARTHUR
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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
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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
