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Ghana dollar bonds drop after government says will suspend debt payments

Ghana’s sovereign dollar bonds dropped more than 2 cents in the dollar on Monday after the government announced it was suspending payments on Eurobonds, external commercial loans and some bilateral debt.

The 2027 maturity fell the most, down as much as 2.3 cents to receive bids at 34.739 cents in the dollar , according to Tradeweb data. A 2030 Eurobond with a partial World Bank guarantee suffered the smallest declines, down 1.556 cents to 66.9 cents.