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Ghana Reaches Preliminary Agreement After Formal Talks to Restructure $13 Billion Eurobonds with Principal Haircut

Jun 21, 2024, 01:40 PM

Ghana and a group of international bondholders have reached a preliminary agreement to restructure $13 billion of Eurobonds after formal talks. The deal includes a principal haircut of up to 37% and an extended maturity, marking a significant step in addressing the nation's default on external debt. This agreement is a crucial part of Ghana's efforts to overhaul its debt and stabilize its economy.