• 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 Economy

Ghana sends debt rework proposal to official creditors

2 years ago
in Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
85
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana sends debt rework proposal to official creditors

Ghana has sent a debt restructuring proposal to its official creditors, two sources with direct knowledge of the matter said, as the West African country battles to escape its worst economic crisis in a generation.

The “working proposal” is a crucial first step for the cocoa, gold and oil producer to engage the official creditor committee after its formation in May and is not legally binding, one of the sources said.

It marks the opening of a more detailed negotiating process that will likely see a number of proposals being exchanged.

Ghana intends to finish restructuring its domestic debt before turning to negotiations with its official, bilateral creditors and international bondholders, a government official said.

The sources did not confirm the details of the proposal or the date on which it was sent. A spokesperson for Ghana’s finance ministry did not immediately comment.

Ghana aims to cut $10.5 billion in interest payments on its external debt over the next three years to successfully implement a $3 billion loan deal from the International Monetary Fund (IMF).

RelatedPosts

The 10 Fastest-Growing Trading Nations in Africa

Nigeria’s 1.6 Million Container Trade Far Less Than it’s Ports Potential – Logistics Expert

Inside Details of Presco’s $172m Acquisition of SOP, Ghana Oil Palm Firm

Its debts to countries including China and members of the Paris Club of creditor nations were $5.4 billion of the $20 billion external debt due for restructuring, as of the end of a 2022, according to a government presentation to investors. The total external debt stock was about $30 billion.

Ghana completed a domestic debt exchange with 65% of holders of local bonds in February and is also seeking relief on the bulk of the remainder of its domestic debt, including deals with pension funds, labour unions and independent power producers.

It is restructuring its debt under the Common Framework process, set up by the G20 in 2020 to bring China and other newer creditor nations into joint sovereign debt restructuring negotiations, for its external debt rework.

An IMF team will visit Ghana from June 8 to 15 as part of its regular engagement under the $3 billion loan programme, an IMF spokesperson said on Wednesday, adding that the first formal review of the programme will happen in the coming months.

Tags: debt rework proposalGhana sends debt rework proposal to official creditorsOfficial creditors
No Result
View All Result

Highlights

Africa’s Richest Economy’s Currency Hits Nine-Month High as Fed’s Dovish Signal Weakens Dollar

Trump Weighs Using $2 Billion in CHIPS Act Funding for Critical Minerals

Moving Gold, Moving Economies: The Rise of Migrant Women in Zimbabwe’s Mining Sector

Senegal and Mercedes-Benz Partner to Build Trucks

INTERPOL Recovers Over $90 Million From African Crime Syndicates

Djokovic and Gauff Gear Up for US Open with Strategic Focus

Trending

Business

The 10 Fastest-Growing Trading Nations in Africa

August 23, 2025

The 10 Fastest-Growing Trading Nations in Africa Against the backdrop of shifting dynamics in global trade, several...

Nigeria’s 1.6 Million Container Trade Far Less Than it’s Ports Potential – Logistics Expert

August 23, 2025

Inside Details of Presco’s $172m Acquisition of SOP, Ghana Oil Palm Firm

August 23, 2025

Africa’s Richest Economy’s Currency Hits Nine-Month High as Fed’s Dovish Signal Weakens Dollar

August 23, 2025

Trump Weighs Using $2 Billion in CHIPS Act Funding for Critical Minerals

August 23, 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.