Bondholders to Suffer More Losses Than Bilateral Creditors, Ghana Says

The problem of high external debt persists in a number of African countries. According to a 2022 report by the World Bank, more than half of all low-income countries, most of which are Africa, do not manage to pay their foreign debts. Ghana is among them, with $37.4 billion in public debt as of October 2022, of which 58% is external.