Debt Restructuring Programme

Ghana has sent a debt restructuring proposal to its official creditors, two sources with direct knowledge of the matter said, as the West African country battles to escape its worst economic crisis in a generation. The “working proposal” is a crucial first step for the cocoa, gold and oil producer to engage the official creditor committee after its formation in May and is not legally binding, one of the sources said. It marks the opening of a more detailed negotiating process that will likely see a number of proposals being exchanged. Ghana intends to finish restructuring its domestic debt before…