Sovereign Debt

Ghana Yet To Restructure $13 Billion Debt with International Bondholders

Africa Finance Review

Apr 15, 2024 — 1 min read

Independence Arch, Accra, GhanaBy demerzel21 Adobe Images

Ghana still needs to secure a restructuring deal for its $13 billion debt with its International bondholder.

Why does this matter: Ghana is currently facing economic challenges and is working to resolve them. One of the significant issues is agreeing on a restructuring deal for its $13 billion debt with its international creditors. It is one of the few African countries that defaulted on its Eurobond and has been striving to meet its financial obligations. Recent deal discussions with its creditors have failed as the International Monetary Fund (IMF) raised concerns regarding Ghana's ability to meet its debt obligations following its debt sustainability parameters, as reported by Reuters.

The bottom line: Ghana is well-positioned to arrange suitable deals that benefit all parties and secure the third tranche of the International Monetary Fund (IMF) bailout package, which is urgently needed to support the effect of its ongoing economic challenges.

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Ecobank Repays $500Million 5-Year Eurobond Debt.

Egypt Receives $820 Million From IMF's Extended Fund Facility (EFF) Deal.

Kenya: The Rise of Rutonomics

Global and Domestic Investors Expressed Confidence in Ethiopia's New Securities Exchange with $26.6 million Investment.