Economy
20 December 2022, 6:34 pm. 1 minute
Reuters was first to report that Ghana suspended payments on much of its external debt, effectively defaulting as the west African country struggles to plug its cavernous balance of payments deficit. Prices of Ghana’s sovereign international bonds dropped sharply in the wake of the announcement. Ghana had already announced a domestic debt restructuring and struck a $3 billion preliminary financing deal with the International Monetary Fund – however a comprehensive debt overhaul is a precondition for receiving actual financing from the fund.
Article Tags
Topics of Interest: Economy
Type: Reuters Best
Sectors: Economy & Policy
Regions: Africa
Countries: Ghana
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
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