Ghana to exempt pension funds from domestic debt restructuring -letter

Ghana will exempt pension funds from a domestic debt restructuring programme, according to a letter seen on Thursday signed by the finance minister, the labour minister, and the secretary general for Ghana's Trade Union Congress.

In a bid to mitigate an ongoing economic crisis, Ghana's government has negotiated a $3 billion staff-level agreement with the International Monetary Fund (IMF), approval of which is conditional on comprehensive debt restructuring. The country announced a domestic debt exchange programme earlier this month and said that external restructuring was being negotiated with creditors.