Ghana strikes deal with bondholders to end debt default

Quick Summary:

The deal is the latest sovereign debt restructuring launched under a G20-approved “common framework” to limp to the finishing line, after the process was beset by delays.

Ghana will also be required “to publish certain public debt information on a semi-annual basis” and be barred from legal challenges to the bonds.

But the common framework has largely failed to streamline sovereign debt restructuring negotiations, particularly in countries that have built up a much wider array of creditors than in past crises, making co-ordination harder.

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Article Details

Author / Journalist: Joseph Cotterill

Category: MarketsFinanceInvesting

Markets: United StatesGhanaMaliZambia

Topics: Debt Ghana’s International Bondholders Deal Bonds Government Ghana Cent Committee Bondholder

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-24 @ 10:48:12 (6 days ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 576 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 21366766

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Official Website: ft.com

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