Quick Glance: Ghana Fails to Reach Debt Agreement with Bondholders
- Ghana was unable to reach an agreement with a group of international bondholders to restructure $13 billion in debt. The International Monetary Fund (IMF) and the bondholder group rejected parts of the proposed plan.
- The IMF argued that the agreement was not aligned with a debt analysis that determines a country's capacity for debt. The bondholder group, among other things, declined the option to maintain the original value of the bond with a longer term and lower interest rate.
- In December 2022, Ghana, the world's second-largest cocoa producer, defaulted on a majority of its $30 billion external debt, following a surge in debt costs and inflation as it was cut off from international markets.
- The failure of the debt agreement represents a setback for Ghana's efforts to recover from default and economic crisis.
Quick Glance: Ghana Protesters Demand Central Bank Governor's Resignation
- Protesters demand the resignation of the central bank governor amid accusations of mismanagement during Ghana's worst debt crisis.
- Ghana's central bank posted a record loss of 60.8 billion cedi ($5.3 billion) in July 2022, mostly due to debt restructuring.
Quick Glance: Ghana's Central Bank Maintains Main Rate, Expects Better Growth Outlook
- Ghana's central bank keeps the main interest rate stable at 30.00% due to decreasing inflation and robust growth.
- Bank of Ghana Governor Ernest Addison projects a GDP expansion of around 3% this year.
- The exchange rate is stabilizing.
- Inflation is declining and foreign exchange reserves are improving.
Quick Glance: Libya Flood: Families Haunted by Fate of the Missing After a Week
- A week after the flood in Derna, families still face unbearable losses and are haunted by the unknown fates of the missing.
- According to a search team source, 283 bodies have been recovered from the sea, with many more yet to be found.
- Sabreen Blil and other residents mourn the uncounted thousands who are not on any confirmed list.
- The floods took everything, says Blil.
Quick Glance: Niger accuses France of destabilising the country
- Accusations of incompetence, mismanagement, and recklessness are denied by central bank officials.
- The World Bank criticizes a law that contradicts its values.
- Protests in Kenya against high cost of living.
- Ghana's opposition calls for the resignation of the central bank governor.
Quick Glance: Accusations against Tunisia: 'Serious abuses' against black Africans
- South Africa recognizes sign language as an official language.
- 600,000 deaf people and 1.4 million people with hearing loss in South Africa.
- A sense of betrayal fuels protests in Kenya.
- Valerio becomes the only woman running for the presidency in Zimbabwe.
Quick Glance: BBC News - Latest News from Africa
- President Hakainde Hichilema describes agreement as a milestone
- Activists demand reduction of taxes on sanitary pads
- Illegal mining is prevalent in South Africa
- President Emmerson Mnangagwa submitted nomination papers to the High Court
Believers protest as 300,000 Christians barred from PAG churches in Lango
Details: https://bit.ly/3ACMxGa
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