Former Finance Minister Ken Ofori-Atta criticized for Ghana's debt crisis, leading to $13B debt restructuring with 37% haircut for Eurobond holders.
Former Finance Minister Ken Ofori-Atta has been criticized for Ghana's debt crisis by Atik Mohammed, who accuses him of excessive borrowing that led to the country's inability to repay its loans. Ghana recently reached a debt restructuring agreement with two bondholder groups to restructure about $13 billion of international debt, which includes a 37% haircut for Eurobond holders and delayed repayments. Despite his criticism, Mohammed expressed relief that the negotiations have paid off.
June 25, 2024
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