The Government of Ghana announced on Monday the suspension of part of its foreign debt payments, in the context of the economic crisis that the African country is experiencing.
«We announce the suspension of all debt service payments under certain categories of our external debt, pending an orderly restructuring of the affected obligations,» reads a statement from the Ministry of Finance.
Thus, the ministerial portfolio has specified that the suspension includes payments on Eurobonds, commercial term loans, and a large part of multilateral debt. However, it will not include payments on multilateral debt or new debts contracted after December 19, 2022 or short-term debts.
«We are also assessing certain specific debts related to projects with the greatest socio-economic impact for Ghana that may have to be excluded,» the missive continues.
In addition, the ministry has indicated that the government is willing to engage in discussions «with all its external creditors to make the debt» of the country «sustainable through a fair, transparent and comprehensive debt restructuring exercise in line with international best practices.»
Source: (EUROPA PRESS)
