Ghana 10.07.24

·         The IMF have approved Ghana’s second tranche following their latest review. The fund announced the immediate disbursement of $360mn. https://www.reuters.com/world/africa/imf-board-approves-360-mln-payout-ghana-after-second-review-sources-say-2024-06-28/

·         Ghana has reached an agreement with two groups to restructure £13bn of its debt. https://www.reuters.com/markets/rates-bonds/ghana-bondholders-reach-agreement-principle-debt-restructuring-statement-2024-06-24/

·         A timeline of Ghana’s key events can be found in this article. https://www.reuters.com/markets/ghanas-debt-restructuring-takes-another-step-forward-2024-06-24/

·         Ghana is currently considering bids from five companies for the construction of its first nuclear power plant. https://theconversation.com/ghana-is-planning-its-first-nuclear-energy-plant-whats-behind-the-decision-232022

·         Ghana has received confirmation from the OCC that the agreement in principle reached with the Eurobond holders is consistent with the comparability of treatment principle. This is another step forward for the country. https://www.reuters.com/world/africa/ghana-gets-green-light-bond-rework-official-creditors-2024-07-08/

·         Ghana’s consumer inflation slowed to 22.8% year on year in June. This is the third consecutive month it has slowed.  https://www.reuters.com/world/africa/ghana-consumer-inflation-slows-228-year-year-june-2024-07-10/

·         The EU has pledged to provide 32mn euros to enhance Ghana’s pharmaceutical and vaccination production. https://www.asaaseradio.com/eu-commits-e32-million-to-enhance-ghanas-pharmaceutical-and-vaccine-production/