₦airaland Forum

This is another reason why 2023 Elections is very important for Nigeria.

ACCRA, Dec 19 (Reuters) - Ghana on Monday suspended payments on most of its external debt, effectively defaulting as the country struggles to plug its cavernous balance of payments deficit.

Its finance ministry said it will not service debts including its Eurobonds, commercial loans and most bilateral loans, calling the decision an "interim emergency measure", while some bondholders criticised a lack of clarity in the decision.
The government "stands ready to engage in discussions with all of its external creditors to make Ghana's debt sustainable", the finance ministry said. The suspension of debt payments reflects the parlous state of the economy, which had led the government last week to reach a $3-billion staff-level agreement with the International Monetary Fund (IMF).

Ghana had already announced a domestic debt exchange programme and said that an external restructuring was being negotiated with creditors. The IMF has said a comprehensive debt restructuring is a condition of its support.
The country has been struggling to refinance its debt since the start of the year after downgrades by multiple credit ratings agencies on concerns it would not be able to issue new Eurobonds.

That has sent Ghana's debt further into the distressed territory. Its public debt stood at 467.4 billion Ghanaian cedis ($55 billion as per Refinitiv Eikon data) in September, of which 42% was domestic.

Attached are details of Ghana’s debt composition and debt servicing profile

Where are those who always say Nigeria should go and learn from Ghana, oya go and learn this shit too.

Ukrainian has defaulted on all her bonds and loans, so if Ghana defaults because of economics downturns, they should understand as they understood Ukraine.

Londonderry:
Where are those who always say Nigeria should go and learn from Ghana, oya go and learn this shit too.

Don't mind them same people calling Buhari a failure, who are blinded to any positive news in the country yet they don't know the bullets Buhari has helped Nigeria dodge. The most annoying thing is they are promoting their container economist as a messiah and gaslighting everyone trying to correct them .

Realist12:
Don't mind them same people calling Buhari a failure, who are blinded to any positive news in the country yet they don't know the bullets Buhari has helped Nigeria dodge. The most annoying thing is they are promoting their container economist as a messiah and gaslighting everyone trying to correct them .

That one is undisputable truth, buhari is worst than failure.