Ghana: Debt restructuring agreement reached

Ghana has reached a milestone in its debt restructuring process, securing approval from more than 90% of its creditors to exchange $13 billion in bonds. The announcement, made on Thursday, marks the conclusion of a complex journey that began in February 2022, following a credit downgrade. The government, having sought support from the IMF, has been working on restructuring agreements with international creditors, including proposals for haircuts. This success is critical to stabilizing Ghana's economy and ensuring long-term financial sustainability.Source: Africa News Agency