Accra’s Plan on a Debt-free Life

Ghana’s government and international bondholders are pushing forward with formal debt talks after advisors to both sides signed non-disclosure agreements. The West African country, which suspended payments on most of its external debt last year, has picked Lazard as its financial adviser, while a group of international private lenders are represented by Rothschild & Co. Ghana’s dollar-denominated debt is more than $13 billion across maturities ranging from 2023 to 2061, according to Refinitiv data. Steering members of the committee include Abrdn, Amundi, BlackRock, Greylock Capital Management and Ninety One. Ghana, which is struggling with its worst economic crisis in a generation, has already struck a deal to write down its domestic debt and has also requested to rework its bilateral debt under the common framework platform supported by the Group of 20 major economies.

REUTERS