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Ghana's Bondholders to Re-Engage Government Next Week on Debt Rework

Ghana's Bondholders to Re-Engage Government Next Week on Debt Rework
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Greater Accra , New York , United States , City Of , United Kingdom , Angus Macswan , Maxwell Akalaare Adombila , Karin Strohecker , Libby George , Rodrigo Campos , International Monetary Fund , Ghana Finance Ministry , Ghana March , Finance Ministry , Reporting By Libby George ,

Ghana's bondholders to re-engage government next week on debt rework

Ghana and its bondholders will restart talks next week to hash out a debt restructuring deal on $13 billion of international bonds, four sources told Reuters, on the heels of a deal finalised with official creditors earlier this week. Ghana, a gold and cocoa producer, defaulted on most of its $30 billion in external debt in 2022, weighed by the COVID-19 pandemic, the war in Ukraine and rapid global interest rate hikes that boosted borrowing costs. It had kicked off formal talks with two groups of bondholders in mid-March - a group of Western asset managers and hedge funds and another one including regional African banks. ....

Greater Accra , City Of , United Kingdom , New York , United States , Maxwell Akalaare Adombila , Karin Strohecker , Libby George , Angus Macswan , Rodrigo Campos , International Monetary Fund , Ghana Finance Ministry , Finance Ministry , Reporting By Libby George ,