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Business News of Wednesday, 9 October 2024

    

Source: 3news.com

Economic recovery: We’ve accomplished what everyone said was impossible – Akufo-Addo

President Nana Addo Dankwa Akufo-Addo President Nana Addo Dankwa Akufo-Addo

President Nana Addo Dankwa Akufo-Addo celebrated Ghana's economic recovery following the successful restructuring of $13 billion in Eurobonds, allowing the country to re-enter international financial markets.

The agreement, approved by the IMF, saw over 90% of bondholders support the deal, reducing Ghana's debt stock by $4.7 billion and providing $4.4 billion in cash flow relief over two years.

Finance Minister Mohammed Amin Adam noted that this restructuring has positively impacted macro-financial conditions, contributing to lower inflation and improved GDP growth.

The government expressed gratitude to bondholders, advisors, and partners for their support throughout the process.

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