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Ghanaian Banks Would Bear the Brunt of a Local-Debt Restructure

·1 min read

(Bloomberg) -- Ghana’s banks would be the main casualty if the government follows through on a proposal to restructure domestic debt.

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The West African nation’s lenders held 32% of outstanding government bonds at the end of August, the biggest chunk among investor groups, according to the Central Securities Depository Ghana Ltd.

Ghana is considering reorganizing part of its $19 billion of local debt in order to secure a loan from the International Monetary Fund. The changes may impose losses in capital and interest payments on investors, according to people familiar with the matter.

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