Ghana's debt strategy.
The government on October 2 suspended its fourth euro-bond sale after low investor interest. The planned 1.5-billion-dollar issue was a key pillar in the medium-term debt management plan under the country's IMF programme. However, rising interest rates on dollar-denominated bonds and the lack of confidence in Ghana's economy has proved it to be a risky strategy.
Preferences for political continuity may see the IMF offer the government more leniency on expenditure targets as 2016 elections approach.
The opposition New Patriotic Party needs to do more to capitalise on the economic crisis if it hopes to unseat the government.
Appetite for Ghana's recovery among donors could see more concessional borrowing if the commercial environment remains difficult.
