Ghana, creditors discuss cut-off date for debt restructuring

16/9/2023 7:04

        Ghana and its official creditors are negotiating cut-off dates for which new loans should be excluded from a restructuring of the country's overseas debt, two sources familiar with the matter said.
        
        Dates in December 2022 and March 2020 were under consideration in recent meetings of the official creditor committee co-chaired by France and China, the sources added, asking not to be named because the talks are private.
        
        The country is restructuring its debt under the G20 Common Framework platform after tumbling into default following a series of ratings downgrades in early 2022. Borrowing and debt servicing costs rose on its bulging debt, exacerbating an economic crisis in which its currency slid and inflation soared.