(Bloomberg) -- Ghana sent a new debt restructuring proposal to the country’s international bondholders as it aims to advance talks on reworking $13 billion...
-- Ghana sent a new debt restructuring proposal to the country’s international bondholders as it aims to advance talks on reworking $13 billion of eurobonds, according to people familiar with the matter.Advisers representing a group of foreign creditors are weighing the proposal, which was put forth by representatives for the government this week, the people said, asking not to be identified as the talks are private.
A key part of the bondholder negotiations is to clarify if the Ghanaian economy is performing better than the IMF projected in its original three-year program. The IMF had initially forecast growth of 1.5% in 2023, but the economy expanded by 2.9% when the government released year-end data. The government is advised by Lazard Inc. and Hogan Lovells and the committee is advised by Rothschild & Cie and Orrick, Herrington & Sutcliffe LLP. Another group of creditors including regional African banks is advised by Renaissance Capital Africa.
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