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
-
Teshie Nungua to face planned power interruptions as ECG upgrades transformers from April 28–30
6 minutes -
NDC defends arrests, rejects claims of free speech crackdown
26 minutes -
NPP calls on CSOs, global community to safeguard Ghana’s democracy
27 minutes -
Delta Air Lines partners Amazon Leo to deliver faster in-flight internet; Ghana routes expected to benefit
40 minutes -
Accra Metropolitan University launches MSc programmes in Cybersecurity and Intelligence
1 hour -
Today’s Front pages: Thursday, April 23, 2026
1 hour -
Poverty in A Convoy
1 hour -
Former CSA boss calls for shift from curriculum to capability in cybersecurity training
1 hour -
Ghana Publishers Association marks World Book and Copyright Day with call to strengthen reading culture
2 hours -
Nominations open for Ghana AI Summit & Awards 2026
2 hours -
Vaccines protect millions in Africa, but gaps still leave children behind
2 hours -
Removed or Rescued? The harsh reality of deportations in a world on the move
3 hours -
Cocoa farmers warn bumper harvest threatened by payment delays
3 hours -
Cybercrime costs set to hit $10.5t globally – Ghana urged to treat cybersecurity as boardroom priority
3 hours -
MTN Ghana Foundation opens applications for 2026 Bright Scholarship
3 hours