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’s Presidential Favorite Aims to Revise $3bn IMF Deal
November 8, 2024
Ghana’s main opposition leader and former president John Dramani Mahama, said that he plans to renegotiate the nation’s $3bn IMF program if he wins the upcoming election in December. He argued that the current government relies heavily on tax increases while failing to reduce government spending. Alternatively, he proposed rationalizing tax revenues and addressing Ghana’s debt crisis by refinancing domestic debt and smoothing out loan repayments, particularly for significant debts maturing in 2026 and 2028. He also emphasized the need for economic stability, including reducing inflation, currency stabilization and creating a more favorable business environment. He suggested that extending the IMF program beyond its May 2026 expiration could be necessary to accommodate these adjustments. Mahama has also proposed a “Big Push” plan to invest $10bn in infrastructure, aiming to boost industries like petrochemicals, mining, and transport. He added that it would be designed to attract private and foreign investment, with the goal of reviving Ghana’s economy and improving the business climate.
Ghana’s dollar bonds were trading higher with its 5% 2029s up 1.5 points to 87.4, yielding 10.31%.
For more details, click here
Go back to Latest bond Market News
Related Posts:Ghana Reaches Deal With Creditors
June 13, 2024
Ghana Starts Second Round of Restructuring Talks
June 20, 2024
Ghana Launches $13bn Debt Restructuring Offer
September 6, 2024
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.