euro bond

29 Nov

Government To Start Talks With Investors As International Investors Lose Huge Investments

wontumionlineBusinesseuro bond, REDD Intelligence

Government is aiming to begin talks with international investors ahead of a possible debt restructuring programme. The debt restructuring is expected to pave way for a programme from the International Monetary Fund. Singapore-based Redd Intelligence said at least four different advisory firms are working with the Ghanaian government on economic policy and debt management in the context of the sovereign’s talks with the IMF. It said though no mandates have yet been formalised, the firms are investment bank Lazard; law firm Hogan Lovells; sovereign advisory firm Global Sovereign Advisory and investment banking and advisory firm Lion’s Head Global Partners. Bloomberg…

10 Aug

Rising External Debt Sparks Foreign Currency Demand, Cedi Depreciation

wontumionlineBusiness2022 mid year review, deloitte ghana, euro bond, external debts

Auditing and management firm, Deloitte Ghana is warning that the country’s rising external debt will lead to increased demand for foreign currency for debt repayment and further depreciation of the cedi. This may also lead to further strain on the government’s finances as it will need to raise more cedi revenue to repay the external debt. In its critique of the 2022 Mid-Year Budget Review, it said the downgrading of Ghana’s credit rating by Fitch and Moody’s has adversely affected the government with Ghana Eurobonds currently trading at distressed debt levels, which has led to increased and prohibitive Eurobond borrowing…