International Monetary Fund

15 Dec

IMF Bailout Will Boost the Economy and Help Cedi Gain Strength – Economist

wontumionlineBusinessInternational Monetary Fund

An Economist and a Lecturer at the Garden City University, Dr. Francis Tandoh has stated that the $3bn bailout by the International Monetary Fund (IMF) will provide economic relief and confidence in the economy. His reaction follows the International Monetary Fund and government reaching a Staff-Level Agreement on economic policies and reforms to be supported by a new three-year arrangement under the Extended Credit Facility (ECF) of about $3 billion. In an interview with Peace FM News, he explained that with this agreement the cedi has gained some value during these times of negotiation with the IMF. He made it known that the bailout…

30 Nov

Debt Restructuring: Eurobond Holders Face 30% Cut — T-Bill Investors Exempt

wontumionlineBusinessEurobond, International Monetary Fund

Domestic bond holders face steep interest rate cuts and lengthening of tenure on their investment as the government seeks a debt exchange programme to qualify for a loan from the International Monetary Fund (IMF). Investors of Eurobonds, which are foreign currency-denominated debts, will also have to contend with both interest rate cuts and the loss of up to 30 per cent of the principal amounts invested. Domestic debt investors will be asked to exchange their existing securities for new ones that may offer a zero coupon in the first year, five per cent in the second and 10 per cent…