• 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

Finance Ministry, external bondholders commence formal talks on $13 billion debt restructuring

2 years ago
in Economy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
78
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Finance Ministry, external bondholders commence formal talks on $13 billion debt restructuring

Ghana’s international bondholders entered into non-disclosure agreements (NDAs) with the government on Wednesday, three sources told Reuters, a step that marks the start of formal talks to restructure over $13 billion of international bonds.

The government sent a formal debt rework proposal to the steering committee of a creditor group, said two of the sources with direct knowledge of the talks, speaking on condition of anonymity because the discussions are private. The sources did not provide any further details on the proposal.

The move comes after Mohammed Amin Adam was appointed new finance minister in February.

The NDAs will temporarily restrict Ghana’s largest bondholders from trading the notes in exchange for non-public information for at least two weeks, one source added.

BlackRock, Amundi, Greylock and Abrdn are part of the creditor group of overseas investors.

The finance ministry did not immediately respond to a request for comment.

RelatedPosts

Communications Minister Warns Against Use of Nigerian DStv Decoders, Moves to Curb Cross-Border Piracy

Nigeria at Risk of an Energy Crisis as Strike Halts Oil Institutions, Dangote Refinery

Ghana Ranks Third in Africa for Adult Bank Account Ownership

Ghana was aiming for a simple debt restructuring to exchange old bonds for new notes.

During meetings with investors in January, the government shared its intention to exclude any so-called state-contingent debt instruments, fixed income structures that could increase payouts if an economy performs better-than-expected.

However, some bondholders push for the use of such instruments, as a way of bridging differences between how they expect a country’s economy to perform and general baseline assumptions some deem as too pessimistic.

The country aims to cut US$10.5 billion from its external debt repayments and interest costs that were due from 2023 to 2026 amid an International Monetary Fund (IMF) US$3 billion reform programme.

Ghana is aiming to restructure US$20 billion out of total external debt that was about $30 billion at the end of 2022, according to a government presentation to investors.

The country reached an agreement in principle in January to rework US$5.4 billion of loans with official creditors under the Common Framework, a platform set up during the COVID-19 pandemic by the Group of 20 economies.

The latest talks are part of a back and forth between Ghana and its international bondholders over the past six months. In an investor presentation in October, the government said it aimed for a haircut of 30% to 40%, sending its bonds sharply lower at the time.

Ghana has 15 international dollar bonds, known as Eurobonds, with maturity dates from 2023 to 2061.

The bonds rose in price after Reuters’ initial story on the start of talks, with the 2027 maturity climbing as much as 0.9 cents on the dollar to 47.6 cents, its highest level since September 2022, three months before the country defaulted.

That price still indicates deep debt distress, however, with most of the bonds trading at 46 to 48 cents on the dollar, according to Tradeweb data.

Tags: $13 billion debt restructuringexternal bondholdersexternal bondholders commence formal talks on $13 billion debt restructuringFinance ministry
No Result
View All Result

Highlights

The African Development Bank Approves €100 Million Loan to Strengthen Côte d’Ivoire’s Cocoa Value Chain

2026 Budget Hearings Conclude with Focus on Accountability and Resource Allocation

Tullow Oil Reports 11.4% Decline in Reserves

RTI Commission Slaps State and Private Institutions With GHS 5.6m in Fines Over Information Breaches

Communications Minister to Address Standoff with MultiChoice Ghana Over DStv Pricing

Bilateral Trade Between Ghana and China Hits Historic $11.8bn Mark

Trending

Features

Communications Minister Warns Against Use of Nigerian DStv Decoders, Moves to Curb Cross-Border Piracy

September 29, 2025

Communications Minister Warns Against Use of Nigerian DStv Decoders, Moves to Curb Cross-Border Piracy Minister for Communications,...

Nigeria at Risk of an Energy Crisis as Strike Halts Oil Institutions, Dangote Refinery

September 29, 2025

Ghana Ranks Third in Africa for Adult Bank Account Ownership

September 29, 2025

The African Development Bank Approves €100 Million Loan to Strengthen Côte d’Ivoire’s Cocoa Value Chain

September 29, 2025

2026 Budget Hearings Conclude with Focus on Accountability and Resource Allocation

September 29, 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.