Ghana set to start debt-restructuring talks for local bonds

The former Finance Minister Seth Tekper says the country’s debt restructuring is unavoidable following the government's balance of payment deficit over the period.

His comment is coming as a backdrop of the country commencing discussions with domestic bondholders on a restructuring of its local currency or cedi debt as part of a plan to secure a $3 billion loan from the International Monetary Fund

The restructuring would be part of a debt-sustainability plan required by the (IMF) and will include part of the $19 billion Ghana has in outstanding local debt.

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