Inflation ( CCPI)54.2% (Jan 2023)
GDP-11.8% (3Q 2022)
Unemployment5.0% (3Q 2022)
3M T-Bill Rate29.91%
12M T-Bill Rate27.72%
5Y T-Bond Rate29.00%
10Y T-Bond Rate30%
USD/LKR360/363
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Reserves $1.89Bn (Dec 2022)
Cum. Trade Deficit $5.2Bn (Dec 2022)
Cum. Fiscal DeficitLKR 1,647Bn (Oct 2022)

Ghana considering a 30% 'haircut' on ISB and suspending interest payments for domestic debt

InternationalNov 29, 2022
Ghana considering a 30% 'haircut' on ISB and suspending interest payments for domestic debt
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The increasing political and economic headwind forced Ghana to U-turn on the debt restructuring resulting ISBs having a 30% haircut for ISBs. As the government printed money to cover its costs, bond yields have soared, reaching 50% in Nov from 21% in March. The government has proposed a suspension of interest rate payments to domestic bondholders in 2023 as part of debt restructuring efforts.

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