#ghanabonds

[ghanafinancialmarket]

Ghana Bond Market Declines By 52.0% In Market Turnover.

The bond market declined by about 52.50% year-on-year in market turnover in the month of February 2023. According to the Ghana Stock Exchange’s Summary of February 2023 Market Activities, the month closed with a total volume trade of 9.17 billion. This however represented a decline of 9.48% compared to the total volume traded in January 2023. Meanwhile, the stock market performed better in…

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[ghanafinancialmarket]

Ghana Misses US$40.6 mln Coupon Payment On Its US$1 bln 2026 Eurobond; Fitch Lowers Ghana To 'Restricted Default'

Ratings agency Fitch on Tuesday downgraded Ghana’s long-term foreign-currency issuer default rating to ‘restricted default’, after the country missed the grace period to make a coupon payment on one of its Eurobonds. Ghana on Friday missed making the $40.6 million coupon payment on its $1 billion 2026 Eurobond, as part of the suspension of payments on selected external debt that the government…

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[ghanafinancialmarket]

Fitch Downgrades Ghana’s Creditworthiness To ‘Restricted Default’ From “C”

International ratings agency, Fitch Ratings, has downgraded Ghana’s creditworthiness to further junk status. In its latest report on Ghana, it said “Fitch Ratings downgraded Ghana’s Long-Term Local Currency (LC) Issuer Default Rating (IDR) to Restricted Default (RD) from ‘C’.” It attributed the downgrade to the decision by government to embark on the debt exchange programme and the recent…

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[ghanafinancialmarket]

Ghana’s Sovereign Bonds Were Already In ‘Junk Status’ Prior To Russia/Ukraine War” – AfDB

Ghana’s sovereign bonds were already trading distressed prior to Russia’s invasion of Ukraine, the Africa Development Bank’s 2023 Africa’s Macroeconomic Performance and Outlook has revealed. Buy at low price, Sell a high price ; Tap into the world’s largest financial market with EXNESS This it said was due to fiscal concerns and widening spread which has expanded further by more than 1,500…

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[ghanafinancialmarket]

Bank of Ghana Order Banks To Unilaterally Roll Over COCOBOD Investors’ Bonds

JoyNews is learning that monies paid to investors who purchased cocoa bills on maturity on Thursday, January 19, 2023 have been withdrawn from individual investors’ accounts without their consent. Buy at low price , Sell at high price ; Tap into the world’s largest financial market with EXNESS COCOBOD issued the bill to raise funds. Many had bought the bills expecting to be paid back their…

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[ghanafinancialmarket]

IMF Increases Interest Rate On SDR To 2.99%; Ghana to Pay More For Fund-backed Loans

IMF Increases Interest Rate On SDR To 2.99%; Ghana to Pay More For Fund-backed Loans

Ghana and other countries seeking loan from the International Monetary Fund (IMF) will pay additional lending rate, as the Bretton Wood institution has increased the yield on its Special Drawing Rights (SDR) by some 210 basis points (2.1%). This took effect on January 6, 2022. Now, the rate of interest on SDR stands at 2.999%, from the previous 0.89%. One US dollar is also equivalent to…

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[ghanafinancialmarket]

S&P Global Downgrades Ghana's Long-term Local Currency Bonds & Foreign Currency Debt

S&P Global Downgrades Ghana’s Long-term Local Currency Bonds & Foreign Currency Debt

S&P Global downgraded Ghana’s long-term local currency bonds to “selective default” and cut the country’s foreign currency debt to “CC” from “CCC-plus,” with default a “virtual certainty,” the ratings agency said in a Tuesday statement. S&P said Ghana’s proposed local debt swap is a “distressed exchange offer,” earning those bonds the “selective default” rating, while the foreign currency bonds…

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[ghanafinancialmarket]

Moody’s Downgrades Ghana’s From Caa1 Rating To Caa2

Moody’s Downgrades Ghana’s From Caa1 Rating To Caa2

Rating agency, Moody’s has downgraded Ghana’s long-term issuer and senior unsecured debt ratings to Caa2 from Caa1 and placed the ratings on review for downgrade. The rating downgrade to Caa2, it said, reflects the recent macroeconomic deterioration, further heightening the government’s liquidity and debt sustainability difficulties and increasing the risk of default. This follows the recent…

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