RPT-Ghana debt with central bank halved, interest rate cut - sources
Published on: Friday 28 July 2023
Ghana's government has written off half of the 77.6 billion cedis ($7 billion) it owed to the central bank and replaced the remainder with a lower yielding, 15-year bond, three sources with direct knowledge of the transaction told Reuters. The latest move is part of the West African nation's push to restructure its domestic debt - a requirement to qualify for the next tranche of a $3 billion International Monetary Fund (IMF) rescue loan. Ghana now wants to focus on negotiations with external creditors.
