SONA: Ghana targets swift debt restructuring to navigate economic crisis
President Nana Akufo-Addo has affirmed to parliament the government's unwavering dedication to swiftly restructure its external debt, a pivotal step in overcoming Ghana's most severe economic crisis in a generation. Ghana, which defaulted on the majority of its overseas debt in December 2022 due to skyrocketing servicing costs, has successfully restructured a significant portion of its local debt. Currently, it is vigorously pursuing negotiations with holders of approximately $13 billion in international bonds to reach a comprehensive resolution. “We are committed to concluding the external debt restructuring process as soon as possible, so we move past the crisis.” Akufo-Addo said...
