Ghana: Lazard’s Thomas Lambert and Hogan Lovells’ Bruno Ciuffetelli working on external debt
A new step is being taken in the long process of making the West African republic’s public debt sustainable, following the creation of a particular government bond conversion fund last week and the finalisation on 12 December of a staff-level agreement with the IMF worth US$3 billion.
14/12/2022 at 18h34, by Africa Business+
The next hurdle will be restructuring Ghana’s external debt, which is unavoidable due to the tightening of borrowing conditions on international markets, the downgrading of the country’s sovereign rating and the depreciation of the cedi, which prohibits any immediate refinancing.
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