Ghana has reached a decisive milestone in its debt restructuring process, securing approval from over 90% of its creditors to exchange $13 billion in bonds. This announcement, made on Thursday, marks the conclusion of a complex journey that began in February 2022 following a downgrade of its credit rating. The government, having sought support from the IMF, has been working on restructuring agreements with international creditors, including proposals for haircuts. This success is crucial for stabilizing the Ghanaian economy and ensuring long-term financial sustainability.
