debt restruction

Debt Restructuring Will Revive Stalled Projects – Pres Akufo-Addo
25 Jun

Debt Restructuring Will Revive Stalled Projects – Pres Akufo-Addo

wontumionlineBusiness
The President of the Republic, Nana Addo Dankwa Akufo-Addo, has in a significant development for Ghana’s economic recovery, announced that many of the country’s stalled projects will soon resume, thanks to successful negotiations on the restructuring of Ghana’s debt. Speaking at the presentation of credentials to nine newly appointed diplomats at the Jubilee House, the President detailed the positive outcomes of these negotiations and their implications for Ghana’s development. The President outlined the completion of three major debt restructuring operations: domestic debt restructuring, external bilateral debt restructuring, and commercial bondholders debt restructuring. These efforts have provided much-needed financial relief and…
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Ghana And The IMF: Debt Restructuring Must Go Hand-In-Hand With Managing Finances Better
21 Nov

Ghana And The IMF: Debt Restructuring Must Go Hand-In-Hand With Managing Finances Better

wontumionlineBusiness, ,
Ghana is struggling with managing its debt, 20-year high inflation, a weak currency, and rising inequality. For example, inflation rose to 33.9% in August 2022 from 9.7% a year earlier, while the cedi has depreciated by 41% year-to-date against the US dollar. These vulnerabilities have been worsened by the aftershocks of the ongoing Russia–Ukraine war and the COVID-19 pandemic. These challenges have forced Ghana’s government to approach the International Monetary Fund (IMF) for an economic support package. Part of the engagement will involve a new assessment of the sustainability of the country’s debt. Debt sustainability analysis classifies countries into four bands: low risk, moderate risk, high risk, and in debt distress. This…
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