external creditors

29 Sep

External Debt Restructuring: We Hope Official Creditor Committee And Government Will Find An Agreement Soon – IMF

Wontumi1Businessexternal creditors, IMF, Julie Kozack, Official Creditor Committee

The International Monetary Fund has reiterated its optimism that the Official Creditor Committee, and the Ghanaian government will find an agreement soon on the external debt restructuring. More than half of the country’s $52.3 billion debt are owned by external creditors including Eurobond holders and some banks, and therefore a significant ‘haircut’ from external holders is crucial to its quest to cut debt significantly. Speaking at a press conference, Julie Kozack, Director of Communications at the IMF said it is good for the Ghanaian government to finalise the restructuring of its domestic debt. UK-based Fitch Solutions and the Economist Intelligence…

28 Jul

Ghana To Reach Debt Deal With External Creditors In Quarter 2, 2024 – Fitch Solutions

Wontumi1BusinessBoG, external creditors, Fitch Solutions, Ghana, Interest Rates

Fitch Solutions believes that Ghana will reach a debt deal with its external creditors in the second half of 2024. According to the UK-based firm, this should provide tailwinds to the exchange rate and further limit imported price pressures. “Indeed, we believe that Ghana will reach a debt deal with its external creditors in H224 [half-year 2024], which should provide tailwinds to the exchange rate and further limit imported price pressures”. It added that real Gross Domestic Product growth will remain well below trend on the back of fiscal consolidation efforts under the IMF programme. However, the Central Bank will…