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Bond Market News
Ghana Reaches Deal With Creditors
June 13, 2024
Ghana has reached an agreement on an MoU with its Official Creditor Committee (OCC) regarding the debt treatment agreed in January, according to the press release by Ghana’s Ministry of Finance. The terms of the agreement remain unchanged and are set to provide Ghana significant debt service relief during the IMF-supported program, the finance ministry added. The deal with creditors will help unlock a $360mn tranche from the IMF which in turn, should trigger more financial assistance from Ghana’s development partners like the World bank. The MoU now needs to be signed by each creditor and once signed the agreed terms will be implemented through bilateral agreements with each OCC member.
Ghana’s 8.125% 2026s were up 0.7 points to 52.75 cents on the dollar.
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