Debt Talks Just Got More Complex With Ghana Political Upheaval
- Nation approaches Common Framework for bilateral debt relief
- Party changes, pre-election mood raise doubts about process
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Even as Ghana takes its third big step to extricate itself from debt distress, bond investors face a new complication: political uncertainty.
The West African nation’s government reiterated it has sought relief from bilateral lenders including the Paris Club and China under the Group-of-20 Common Framework. The move follows an offer to local-currency bondholders for a debt swap with coupon reductions and a unilateral move to suspend payments on external debt.