Skip to content

Ghana Banks Seek Shorter Maturities in Local Debt-Swap Deal

  • Banks hold about a third of domestic bonds being exchanged
  • Finance Minister is confident that 80% threshold will be met

Ghanaian banks are holding out for better terms in a domestic bond-exchange program aimed at easing the government’s debt-service burden.

No bank will make a profit in 2022 if they accept the new bonds offered under the exchange, and some face collapse, according to two people familiar with ongoing talks between the government and lenders, who asked not to be identified because they’re not authorized to speak publicly.