This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Ghana received the draft term sheet on bilateral debt relief from its official creditors composed of the Paris Club Group of creditors and the new ones including China. The term sheet, which comes after months of negotiations, will help Ghana unlock a $600mn IMF disbursement under the latter’s $3bn Extended Credit Facility (ECF) program. Ghana’s Finance Minister Ken Ofori-Atta, said that they need to scrutinize every clause but in terms of the broad framework, all parties were in agreement, declining to provide details in the draft accord. According to the IMF spokesperson Julie Kozack, discussions between Ghana and the official creditor committee are ongoing, and good progress is being made, adding that the fund is confident an agreement can be reached soon.
Ghana’s dollar bonds traded stable with its 7.875% 2027s at 44.5 cents on the dollar.
For more details, click here