Terkper calls for debt plan before Ghana’s market return

Ghana’s Presidential Advisor on the Economy, Seth Terkper, has called for a clear debt repayment framework as the government plans to re-enter both domestic and international capital markets.

Speaking at the Graphic Ecobank Economic Forum in Accra, the former Finance Minister said the move to reopen the bond market is timely. However, he stressed the need for strict fiscal discipline and a credible debt strategy to attract investors.

“If we are going to reintroduce bonds, we must also introduce a debt repayment mechanism,” Terkper said.

He criticized the country’s heavy dependence on short- and medium-term borrowing tools like treasury bills and hybrid bonds, calling it unsustainable for long-term development. Instead, he urged the government to match fundraising with investment timelines and to protect long-term investors like pension funds through transparent repayment plans.

“It’s very expensive to use treasury bills and hybrids for capital investment. Pension funds are meant for long-term use, yet they were placed in three-to ten-year bonds,” he added.

Ghana is slowly recovering from its recent domestic debt restructuring and ongoing discussions with the International Monetary Fund (IMF). As the country prepares to return to the markets, experts warn that future success will depend on sound borrowing practices and the government’s ability to ensure timely repayments.