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Ghana’s foreign exchange reserves post Eurobond restructuring by Dec 31, 2024
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Resolution / Starting Odds
Less than $5 billion • 33%
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Bank of Ghana or IMF reports
Story
Ghana Reaches Preliminary Agreement in Principle to Restructure $13 Billion Eurobonds
Jun 24, 2024, 08:43 AM
Ghana has reached a preliminary agreement in principle with a group of international bondholders to restructure approximately $13 billion of dollar-denominated Eurobonds. This agreement includes a principal haircut of up to 37% and extended maturity terms. The deal marks a significant step in addressing Ghana's default on its external debt. The government has also included certain non-financial terms in the new bonds, and a formal launch of consent solicitation is expected in the upcoming weeks.
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