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      Debswana sponsors BFA’s National First Division League with P3.9m 

      Debswana sponsors BFA’s National First Division League with P3.9m 

      Ditlhokwe Tipped to Excel at Kaizer Chiefs

      Ditlhokwe Tipped to Excel at Kaizer Chiefs

      BCF Aims to Resuscitate Chess this Year

      BCF Aims to Resuscitate Chess this Year

      Tebogo’s Move to US on Hold

      “Don’t Panic,” Tebogo is advised as He Transits to Senior Level

      NSAs decry Absence of School Sports 

      NSAs decry Absence of School Sports 

      BCF fails to send Team to Continental Schools Chess Champs

      BCF fails to send Team to Continental Schools Chess Champs

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      Ghana is making progress in its debt restructuring

      mm by RMB Africa Research
      January 24, 2023
      in News
      Reading Time: 1 min read
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      Ghana is making progress in its debt restructuring
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      Ghana is making progress in its debt restructuring, softening its stance slightly this week as it proposed that it will pay a 5 percent coupon rate on 2023 local currency debt, that is the subject of the ongoing debt swap negotiations.

      This is a departure from the country’s earlier stance of paying no interest on debt this year. The shift, however, has both positives and negatives. It is positive from a progress standpoint on the restructuring of local debt, showing that the government is still flexible as it looks to further negotiate. However, holders of foreign-currency debt will be getting nervous as any concessions made to local-currency holders will potentially increase the burden that foreign-currency debt holds as the costs will need to be absorbed somewhere.

      As investors fret over what might happen to foreign-currency bondholders, the bonds have traded fairly steadily in recent sessions. The more concessions given to local-currency holders, however, the more pressure might be placed on the country’s external bonds. Investors in Ghana’s external debt, therefore, will be watching the negotiations closely.

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