by Amruth Sundarkumar | Nov 25, 2022 | Sovereign Bonds, Sovereigns
Ghana’s Deputy Minister of Finance John Kumah has proposed to ask its international bondholders to look at a 30% haircut on the principal and forgo some interest payments as part of its debt-sustainability plan to secure a $3bn IMF loan. It will also ask...
by Amruth Sundarkumar | Oct 31, 2022 | Sovereign Bonds, Sovereigns
Ghana’s President Nana Akufo-Addo ruled out debt haircuts as part of negotiations for a ~$3bn support package of from the IMF. Ghana has been in talks with the IMF since July for a three-year extended credit facility (ECF) program and was said to be seeking...
by Amruth Sundarkumar | Aug 11, 2022 | Sovereign Bonds, Sovereigns
Ghana was downgraded by Fitch from B- to CCC, driven primarily by a deterioration of its public finances, lack of access to external financial markets and relatively high levels of debt. As a result of its dwindling reserves, Fitch expects that meeting its external...
