Business News of Tuesday, 8 October 2024
Source: 3news.com
The Government of Ghana announced its return to international financial markets after successfully restructuring $13 billion in Eurobonds on October 8, 2024.
This agreement, reached with over 90% of bondholders, follows a June deal with the Ad Hoc Group of International Bondholders and IMF approval.
The restructuring will reduce Ghana's debt stock by $4.7 billion and provide cash flow relief of approximately $4.4 billion over two years.
President Akufo-Addo highlighted this achievement as a significant step towards economic recovery, while Finance Minister Mohammed Amin Adam noted improved market confidence and positive growth projections following the deal.