Amid Africa Bond Boom, Ghana Stands Out as Only Loser: Chart
It’s been a good start to the year for Eurobonds of sub-Saharan African issuers, which have gained on average 2.2 percent, compared with 1.9 percent for emerging-market dollar debt. The one exception: Ghana. Investors dumped the West African nation’s securities after the government revealed $1.5 billion of previously unreported debt and boosted the 2016 budget deficit to 10.2 percent of gross domestic product, from 5.3 percent. - Bloomberg
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