Ghana’s sovereign dollar bonds dropped nearly 3 cents in the dollar on Tuesday, following the government’s presentation of debt rework scenarios to investors that included a haircut of between 30-40% on the principal.
Longer-dated bonds sustained the biggest losses, with the 2061 down as much as 2.9 cents in the dollar to 38.9 cents, its lowest level since mid-July, Tradeweb data showed.
Source: Reuters
