Audio By Carbonatix
Ghana’s Eurobonds extended declines on Wednesday, March 1, 2023, after the country missed a self-imposed deadline to restructure its bilateral debt and S&P Global Ratings warned bondholders face larger losses than anticipated.
The nation’s 2032 dollar securities dropped 0.5% to 36.8 cents in the dollar by 8:18 a.m. in London, bringing their decline this week to 1.7%.
Finance Minister Ken Ofori-Atta wanted to reach a restructuring agreement with bilateral creditors by the end of February 2023 to help qualify for a $3 billion International Monetary Fund programme.
o far, Ghana has only partially completed the domestic-debt part of the exchange programme.
Meanwhile, S&P said Ghana may have to ask external creditors to write off as much as 50% of the debt it owes them — far higher than the 30% the government initially considered.
Latest Stories
-
How to check 2026 WASSCE Private First Series results
7 minutes -
SIGA rejects claims of steering SOE insurance to SIC
2 hours -
Explosions at Burundi ammunition depot kill civilians, witnesses say
2 hours -
Wulugu embraces clean energy as residents move away from traditional cooking methods
2 hours -
‘Everyone wants to act like a doctor’ – Francis Abu reacts to World Cup doubts after injury
2 hours -
Hohoe United announces withdrawal from Ghana Premier League
2 hours -
GhIE inducts 194 professional engineers, calls for higher standards in infrastructure delivery
2 hours -
Government reiterates commitment to growth in real estate sector; Prime Accra launched
2 hours -
Energy Minister engages key stakeholders to boost Ghana’s upstream petroleum sector
3 hours -
Flood survivors in North East region demand non-partisan action on Pwalugu Dam Project
3 hours -
“We’re not speaking out of vacuum” – IMANI defends SIC political inference claims
3 hours -
GH¢20m unexecuted hospital payment exposes systemic failure in public spending – Edem Senanu
3 hours -
Sampson Tagbor: SIGA’s B2B strategy is proactive and must be commended
3 hours -
All set for 2026 Kwahu Business Forum
3 hours -
Photos: Mahama welcomes Zimbabwean President Mnangagwa for 3-day state visit
4 hours