{"id":163240,"date":"2024-03-19T14:20:10","date_gmt":"2024-03-19T14:20:10","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/03\/19\/strike-better-deal-with-eurobond-holders\/"},"modified":"2024-03-19T14:20:10","modified_gmt":"2024-03-19T14:20:10","slug":"strike-better-deal-with-eurobond-holders","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/03\/19\/strike-better-deal-with-eurobond-holders\/","title":{"rendered":"\u2018Strike Better Deal With Eurobond Holders&#8217;"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>Kristalina Georgieva with President Akufo-Addo<\/strong><\/p>\n<p>\u00a0<\/p>\n<p>Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has advised the government to ensure its deal with Eurobond holders is in the best interest of the country.<\/p>\n<p>Ms Georgieva, who made this known when she called on President Akufo-Addo, said Ghana\u2019s negotiating team should ensure she was not short changed because failure to do that would prolong the country\u2019s debt situation.<\/p>\n<p>She emphasised, \u201cWe need to complete negotiations with private creditors and Eurobond creditors but completely defending the interest of the country. I heard a bit of discussion, but the sooner we do it the better for the country. The sooner we do a great deal the better for the country.\u201d<\/p>\n<p>The IMF boss continued that to do a transaction that would reverse progress so far made would not help matters adding, \u201cYou cannot allow the Eurobond creditors to twist your arm because you have done a very painful domestic debt restructuring that has hurt people here. You have agreed to debt principle with official creditors of Ghana under certain conditions.\u201d<\/p>\n<p>Citing the Zambia situation where the official creditors disagreed with the restructuring terms with the commercial creditors, she noted that \u201cthe deal with the Eurobonds has to be a fair deal otherwise we risk seeing what happened in Zambia.<\/p>\n<p>In October [2023], I thought the deal was done then the private sector twisted Zambia\u2019s arm and then tried to give them a better deal than the official creditors.\u201d<\/p>\n<p>Indicating that Ghana was at a critical time close to the top, she stressed, \u201cwe still need to do a bit of climbing.\u201d<\/p>\n<p>It would be recalled that Ghana proposed a 30-40% haircut for Eurobond holders as part of the restructuring of the external debt.<\/p>\n<p><strong>By Samuel Boadi<\/strong><\/p>\n<p><!-- AI CONTENT END 2 -->\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Kristalina Georgieva with President Akufo-Addo \u00a0 Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has advised the government to ensure its deal with Eurobond holders is in the best interest of the country. Ms Georgieva, who made this known when she called on President Akufo-Addo, said Ghana\u2019s negotiating team should ensure she was [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":163241,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-163240","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u2018Strike Better Deal With Eurobond Holders&#039; - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/03\/19\/strike-better-deal-with-eurobond-holders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018Strike Better Deal With Eurobond Holders&#039; - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Kristalina Georgieva with President Akufo-Addo \u00a0 Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has advised the government to ensure its deal with Eurobond holders is in the best interest of the country. 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