This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Ghana Reaches Deal With IMF For $370mn Disbursement
April 16, 2025
Ghana is set to receive a $370mn installment from the IMF, pending approval by the executive board, bringing total disbursements to $2.36bn, under its $3bn program launched in May 2023. This funding will strengthen Ghana’s foreign reserves amid global market volatility. The aid follows Ghana’s 2022 debt default and subsequent restructuring. The country has finalized an MoU with official creditors and is negotiating terms with commercial lenders. Although Ghana’s program performance slipped in late-2024 due to delayed reforms ahead of elections, the new administration under President John Mahama has taken corrective steps, including spending cuts, revenue enhancement, and better tax administration. The government aims for a 1.5% primary budget surplus and to reduce the overall fiscal deficit to 3.1% of GDP in 2025, down from 7.9% in 2024. These efforts aim to restore economic stability and ensure Ghana can meet upcoming debt obligations totaling $18.4bn over the next four years.
Its dollar bonds were up by 0.3 points across the curve with its 5% 2029s at 81.7, yielding 14.5%
For more details, click here
Go back to Latest bond Market News
Related Posts:
Fitch Cuts Ghana to CCC Following S&P’s Recent Downgrade
August 11, 2022
Ghana President Rules Out Debt Haircuts as Part of Negotiations
October 31, 2022
Ghana Proposes Up to 30% Haircut on Debt to Offshore Creditors
November 25, 2022
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.