Days after launching a bold domestic bond overhaul, Ghana struck a $3 billion loan deal with the International Monetary Fund in a quest to steady its debt-laden economy, but domestic resistance to
The to-do-list for Ghana's embattled government is long: pushing through a domestic debt exchange without upending its financial system, negotiating restructuring $13 billion in international bonds and executing spending cuts and tax rises. Overseas investors have welcomed both the local debt exchange - which aims to swap bonds for longer maturities, cut interest rates and pause interest payments until 2024 - and the IMF deal, which still requires board approval, to help address Ghana's worst economic crisis in a generation.
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