Our website use cookies to improve and personalize your experience and to display advertisements (if any). Our website may also include cookies from third parties like Google Adsense, Google Analytics, and Youtube. By using the website, you consent to the use of cookies.

Ghana Eurobonds jump after $3 billion IMF bailout moves forward

The African MirrorOctober 7, 2023October 6, 20231 Min Read

The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo

GHANA’S international sovereign dollar bonds rose on Friday after the West African country reached a staff-level agreement with the International Monetary Fund on the first review of its $3 billion bailout loan program.

Longer-dated maturities jumped the most, with the 2061 bond rising just over 1 cent to 41.504 cents on the dollar at 1204 GMT, according to Tradeweb data. Most of the bonds are still trading at deeply distressed levels of 41-44 cents on the dollar.