Investment Times

Ghana has reached an agreement in principle with its bondholders for the restructuring of $13 billion worth of international debt, three sources told Reuters on Thursday, on the heels of a deal finalised with official creditors earlier this month. The deal will see bondholders take a haircut on principal of up to 37% and maturity of the bonds lengthened, two of the sources said. The West African gold and cocoa producing nation defaulted on most of its $30 billion in external debt in 2022, under the strain of the COVID-19 pandemic, the war in Ukraine and higher global interest rates...