Ratings agency, Fitch, would move Ghana out of sovereign default by July 2025. This follows its anticipation of the country completing the external debt restructuring by the end of June 2025.
It is optimistic Ghana will also complete the non-bond debt treatment by the end of this year. The UK-based firm disclosed this in its latest webinar on debt restructuring in Ghana, Zambia and Ethiopia.
Associate Director of Europe, Middle East and Africa Sovereign Ratings at Fitch, Thomas Garreau, said Ghana is expected to complete the common framework restructuring by the first half of next year.
He said due to the elections there would be some delays in the completion of the process, hence the forecast of next year. Ghana had an agreement with the Official Creditor Committee (OCC) on the parameters of official debt treatment in January 2024 and about 14.2 billion dollars of Eurobonds have been restructured so far.
Source: myjoyonline
