22
Sep
A Senior Director at ratings agency, Fitch, Mahin Dissanayake, has warned Ghana of a possible sovereign debt default, saying, any kind of debt restructuring could threaten the local banking sector. According to him, “default is a real possibility”. Speaking at a press conference, Mr. Dissanayake said “Ghanaian banks hold large volumes of government securities, so debt distress is going to put a lot of stress on the banks” he said. He explained that “the operating environment is looking very fragile.” According to him, reports that Ghana is planning to restructure that local currency debt as part of an IMF deal…