• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Ghana nears milestone agreement with external creditors for foreign debt restructuring, says EIU

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
105
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana nears milestone agreement with external creditors for foreign debt restructuring, says EIU

The Economist Intelligence Unit (EIU) has released a report titled “Outlook for Global Sovereign Credit Risk,” in which it predicts that Ghana will reach an agreement with its external creditors in the coming weeks for the restructuring of its foreign loans.

This forecast is seen as positive news for Ghana, as it will allow the country to proceed with its external debt restructuring plans. The UK-based firm notes that Ghana has made progress in its negotiations for external debt restructuring.

Ghana had requested a bilateral debt restructuring under the Common Framework for Debt Treatments supported by the G20 in December 2022. In June of the current year, the Ghanaian government sent a non-binding working debt-restructuring proposal to official bilateral creditors, marking the start of a negotiation process that the EIU anticipates will conclude in the coming weeks.

The report also mentions that in 2022, six countries defaulted on their loans, including Ghana, Mali, Sri Lanka, Russia, Ukraine, and Belarus. The reasons for these defaults varied, with some stemming from geopolitical factors like Russia’s invasion of Ukraine and others due to domestic economic imbalances or policy mismanagement.

The EIU further highlights that a number of countries are expected to experience debt defaults in the current year, with many of these countries being in Africa. It attributes this trend to high levels of indebtedness, significant external debt-service burdens, and strained public finances in African economies.

The report notes that prior to the pandemic, many African countries took advantage of low-cost international credit for budgetary and balance of payments support, resulting in the accumulation of substantial external debt. However, the recent rise in interest rates has significantly increased the costs of servicing this debt.

RelatedPosts

Regular Fiscal Data Publication Key to Having an Effective Fiscal Council, Says Oppong Nkrumah

Finance Ministry Backs New Fiscal Council to Anchor Discipline and Stability

2025 Study: Where High Earners Keep Most of Their Money 

The EIU’s report suggests that Ghana is likely to secure an agreement with its external creditors for the restructuring of its foreign loans in the near future. It also highlights the challenges faced by African economies due to high debt levels and increased debt-servicing costs.

Tags: Economist Intelligence Unit (EIU)External creditorsGhana nears milestone agreement with external creditors for foreign debt restructuringsays EIU
No Result
View All Result

Highlights

GoldBod Introduces Special Bonus for Licensed Miners

Thomas Partey in Top Form for Black Stars Amid Legal Challenges – GFA 

BoG Tightens Foreign Currency Import and Export Rules to Curb Money Laundering

BoG Reiterates Warning Against Unauthorised Foreign Exchange Transactions

GRA to Tax Cryptocurrency Gains as Authority Prepares Digital Tracking System

 Importers and Exporters Association Decries “Mafiarian” Auctions of Perishable Goods at Ghana’s Ports

Trending

Business

Regular Fiscal Data Publication Key to Having an Effective Fiscal Council, Says Oppong Nkrumah

August 27, 2025

Regular Fiscal Data Publication Key to Having an Effective Fiscal Council, Says Oppong Nkrumah Ranking Member of...

Finance Ministry Backs New Fiscal Council to Anchor Discipline and Stability

August 27, 2025

2025 Study: Where High Earners Keep Most of Their Money 

August 27, 2025

GoldBod Introduces Special Bonus for Licensed Miners

August 27, 2025

Thomas Partey in Top Form for Black Stars Amid Legal Challenges – GFA 

August 27, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.