Investment Times

Banks are holding out for better terms in a domestic bond-exchange program aimed at easing the government’s debt-service burden. This is according to Bloomberg. No bank will make a profit in 2022 if they accept the new bonds offered under the exchange, and some face collapse, according to two people familiar with ongoing talks between the government and lenders, who asked not to be identified because they’re not authorized to speak publicly. Ghana is restructuring most of its public debt, estimated at ¢467 billion ($39.2 billion) as at the end of September 2022, to qualify for a $3 billion bailout...