Ghana’s economy grew faster than expected, advancing 4.8% YoY in the second quarter of this year, up from a 3.3% rise in the previous three-month period. The industrial sector expanded by 4.4%, reversing a 0.5% drop in Q1 2022, buoyed by manufacturing and cocoa production. At the same time, the services sector grew by a solid 5.2%, after a 5.6% expansion in the previous period. Separately, Ghana is poised to start talks with domestic bondholders on restructuring its local-currency debt as part of the nation’s plan to secure a $3 bln loan package from the IMF. The restructuring would be part of a debt-sustainability plan required by the IMF and will include part of the $19 bln Ghana has in outstanding local debt.