01
Mar
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,…