Ghana begins $13 billion bond restructuring talks with International Creditors.

Ghana, the world's second-largest cocoa producer, has started talks with overseas creditors, including BlackRock, Greylock, Amundi, and Abrdn.

To begin the talks, Ghana and its international creditors have signed a non-disclosure agreement (NDA) that will prevent the country's largest bondholders from trading the bonds in the short term for at least two weeks for non-public information, as reported by Reuters.

Ghana defaulted on most of its external debt in December 2022 and has implemented economic reforms to grow the economy. To access the next $600 million IMF loan payment as part of the ECF (Extended Credit Facility), a bond restructuring deal with its creditor.