Ghana

Ghana intends to offer lower interest rates on approximately USD 1.5 bln of domestic debt, a condition of an IMF bailout program. That includes exchanging USD 809 mln foreign currency notes for two new securities maturing in 2027 and 2028 at reduced rates. The cocoa-industry regulator will also offer lower rates on five new bonds for investors swapping existing bills. These actions aim to help Ghana to restructure public debt and facilitate payments under IMF’s USD 3 bln program.