World Bank or Ghana Statistical Service reports

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.