Beitrag vom 03.01.2023

The Africa Report

Africa in 2023: Ghana’s debt restructuring sets tone for Africa’s ‘Year of Austerity’

By David Whitehouse

A long year lies ahead for the African governments which have borrowed too much. While Ghana's torment is under the spotlight, Tunisia, Kenya and Nigeria will all face tough challenges in the year ahead, experts say.

Ghana’s woes will be just the start.

The country in December sought a domestic debt restructuring which will deprive financial institutions of income from government bonds in 2023 and leave them with reduced interest payments thereafter. That was followed by a staff-level agreement with the IMF for a $3bn credit facility, an accord which still needs to be approved at board level.

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