February 2023 Africa Monitor Report

The government is unlikely to issue Eurobonds at attractive yields in the short term even if it secures an International Monetary Fund support programme this month or in the next couple of months. In its February 2023 Africa Monitor Report, Fitch Solutions, said the rising interest rates which has been hiked to 28% at the beginning of last year make domestic borrowing more expensive. “First, Ghana faces external financing constraints. Indeed, the country has been cut off from the international capital market since late-2021 due to subdued investor confidence. While an expected IMF deal in Quarter 1, 2023 will gradually…