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      Tumisang Orebonye: Overcoming Against Adversity to Reach for the Stars

      ‘Winning The CAF Super Cup Is A Dream Come True’ – Orebonye

      BAA Needs Over P3m For World Champs

      Botswana’s Sporting Future in Jeopardy: School Sports Suspension Threatens Athletic Excellence

      No House For Tebogo Despite Astral Performance in Budapest

      “No Pressure for Tebogo at Diamond League Finals”

      BOKA Aims to Host Two Prestigious International Karate Competitions

      BOKA Aims to Host Two Prestigious International Karate Competitions

      FM Botswana 2022 conference: transformation towards a greener FM 

      StanChart CEO Underscores Role of UB Marathon in Boosting Botswana’s Sports Tourism

      No House For Tebogo Despite Astral Performance in Budapest

      No House For Tebogo Despite Astral Performance in Budapest

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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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