{"id":9093,"date":"2023-09-14T08:42:34","date_gmt":"2023-09-14T08:42:34","guid":{"rendered":"https:\/\/qiraatafrican.com\/en\/?p=9093"},"modified":"2023-09-14T08:42:34","modified_gmt":"2023-09-14T08:42:34","slug":"ghana-reopens-debt-exchange-for-12-9-bln-cedis-of-local-bonds-fin-ministry","status":"publish","type":"post","link":"https:\/\/qiraatafrican.com\/en\/9093\/ghana-reopens-debt-exchange-for-12-9-bln-cedis-of-local-bonds-fin-ministry\/","title":{"rendered":"Ghana reopens debt exchange for 12.9 bln cedis of local bonds – fin ministry"},"content":{"rendered":"

Ghana is reopening a debt exchange that was originally settled in February for another 12.9 billion cedis ($1.1 billion) of local bonds, the finance ministry said on Thursday.<\/p>\n

The terms of the new invitation are identical to those of the February 2023 exchange, which\u00a0closed with\u00a0an 85% participation rate of “relevant” bonds, the ministry said in statement.<\/p>\n

The exchanges are part of efforts by Ghana<\/a> to restructure both domestic and external debt – a condition set by the International Monetary Fund (IMF) for a $3 billion bailout secured in May.<\/p>\n

In August, the finance ministry said it had completed a separate swap of 95% of local debt held by pension funds, which had been\u00a0excluded from the February exchange\u00a0after labour unions threatened to strike.<\/p>\n

Ghana defaulted on most of its $30 billion external debt in December, after its currency tumbled and inflation and debt servicing costs soared.<\/p>\n

It is targeting $10.5 billion of external debt service relief from 2023-2026, as it negotiates the restructuring of $20 billion of overseas debt with bilateral creditors including China and Paris Club members and international bondholders.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ghana is reopening a debt exchange that was originally settled in February for another 12.9 billion cedis ($1.1 billion) of local bonds, the finance ministry said on Thursday. The terms of the new invitation are identical to those of the February 2023 exchange, which\u00a0closed with\u00a0an 85% participation rate of “relevant” bonds, the ministry said in […]<\/p>\n","protected":false},"author":1,"featured_media":9094,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":5,"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"Reuters","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"0","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"0","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_social_meta":[],"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[32,27],"tags":[158,1436],"class_list":["post-9093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-west-africa","tag-ghana","tag-international-monetary-fund"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/9093","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=9093"}],"version-history":[{"count":0,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/9093\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/9094"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=9093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=9093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=9093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}