LONDON (Reuters) – Ghana’s dollar-denominated bonds were hit on Monday, as the dollar’s strength and fears of an economic downturn in China hit already-struggling frontier markets, including the West African country which has turned to the IMF amid soaring inflation.
Ghana’s Eurobond maturing in February 2027 fell more than 1.5 cents to a record low below 50 cents on the dollar, according to Tradeweb data.
The country’s bonds yield spreads to U.S. Treasuries rose to 1,998 basis points.
(Reporting by Rachel Savage, Editing by Rodrigo Campos)
