Bonds

Ghana begins $13 billion bond restructuring talks with International Creditors.

Africa Finance Review

Mar 14, 2024 — 1 min read

Image Credit: Maksym Kapliuk Adobe Stocks

Ghana, the world's second-largest cocoa producer, has started talks with overseas creditors, including BlackRock, Greylock, Amundi, and Abrdn.

To begin the talks, Ghana and its international creditors have signed a non-disclosure agreement (NDA) that will prevent the country's largest bondholders from trading the bonds in the short term for at least two weeks for non-public information, as reported by Reuters.

Ghana defaulted on most of its external debt in December 2022 and has implemented economic reforms to grow the economy. To access the next $600 million IMF loan payment as part of the ECF (Extended Credit Facility), a bond restructuring deal with its creditor.

Ecobank Repays $500Million 5-Year Eurobond Debt.

Ecobank Transnational Incorporated (ETI) repaid a 5-year, $500 million Eurobond loan that matured last week. Why does this matter: Ecobank is a multinational banking conglomerate that operates locally in 33 African countries. The company's first international debt market entry was a $200 million bond issue, listed on the

Egypt Receives $820 Million From IMF's Extended Fund Facility (EFF) Deal.

Egypt has secured $820 million as the second tranche of the International Monetary Fund's (IMF) loan program. The country has been taking decisive measures to grow its economy, consistently reduce its debt-to-GDP ratio, and increase revenue through deals with some Middle Eastern investors. Despite facing economic challenges similar

Kenya: The Rise of Rutonomics

President William Ruto's economic reforms have yielded positive results for the largest economy in East Africa. Why is this important: President Ruto campaigned on a 'bottom-up' economic model that aimed to strengthen the Micro, Small, and Medium Enterprises (MSMEs) economy, create a strong digital superhighway and

Ghana Yet To Restructure $13 Billion Debt with International Bondholders

Ghana still needs to secure a restructuring deal for its $13 billion debt with its International bondholder. Why does this matter: Ghana is currently facing economic challenges and is working to resolve them. One of the significant issues is agreeing on a restructuring deal for its $13 billion debt with

Read more

Ecobank Repays $500Million 5-Year Eurobond Debt.

Egypt Receives $820 Million From IMF's Extended Fund Facility (EFF) Deal.

Kenya: The Rise of Rutonomics

Ghana Yet To Restructure $13 Billion Debt with International Bondholders