Business News of Wednesday, 26 June 2024
Source: Joy Business
Eurobond holders are set to forgo approximately $4.7 billion owed by the Ghanaian government as part of a $13.1 billion debt restructuring agreement.
The deal also provides $4.4 billion in cash flow during the IMF program period.
This agreement includes two options for investors: the P.A.R and Disco options, with the Disco option offering three new bond instruments and the P.A.R option capped at 1.6 billion cedis. Bondholders will face a 37% haircut on interest and maturity.
The government must publish public debt information semi-annually, and the IMF has endorsed the deal, aiding cedi stabilization.