Ghana's debt restructuring takes another step forward

Ghana's debt restructuring nears completion as bilateral creditors, including France and China, submit a draft memorandum of understanding for their $5.4 billion share of the deal.

Key events include:

- Feb 2022: Moody's downgrades Ghana's credit rating.
- July 2022: Ghana requests an IMF loan amid economic protests.
- Dec 2022: Ghana defaults on most external debt.
- Jan 2023: Ghana seeks debt restructuring under the G20's Common Framework.
- May 2023: Official creditors form a committee, leading to IMF loan approval.
- Jan 2024: Ghana agrees to restructure $5.4 billion of debt.
- May 2024: Draft MoU received from bilateral creditors, pending finalization.