Lazard, Global Sovereign Advisory, others advising Gov’t on debt management, says Redd Intelligence
Investment bank Lazard, law firm Hogan Lovells, Global Sovereign Advisory and Lion’s Head Global Partners are the four different advisory firms working with government on economic policy and debt management in the context of the sovereign’s talks with the IMF.
According to Redd Intelligence, the firms are working with the government on an informal basis as the mandates have not yet been formalized.
The Singapore based finance and market research firm explains that the government’s talks with the IMF are still in the early stages, with a macro framework not yet completed, adding, “There is a push, however, for external bondholders to organise in the next several weeks”.
“Two external bondholder committees are likely. Holders of part-guaranteed 2030 Eurobond may want to set up a separate group”, it remarked.
The research firm stated that investment bank, Lazard, which has been in pole position to get a financial advisory mandate, is pairing up with law firm Hogan Lovells on a joint mandate to advise Ghana.
Also, Global Sovereign Advisory (GSA), a Paris-headquartered firm providing consultancy services on public policy, as well as economic and financial strategy including debt, is also working with the Ghanaian government.
Similarly, Lion’s Head Global Partners, an investment banking, asset management and advisory firm focused on emerging and frontier markets, is also involved.
Government is in talks over a loan of about $3bn from the International Monetary Fund.
The Finance Ministry said the government and the lender are committed to reaching an agreement on a framework and policies for an IMF-backed programme as soon as possible.
The country is under pressure to reverse an economic slide that rolls back recent gains that had seen the country rated as one of the world’s fastest growing economies.
