Ghana considering 30% ‘haircut’ on foreign bonds, deputy minister says

ACCRA, Nov 24 (Reuters) – Ghana’s government is considering a 30% ‘haircut’ on foreign bonds, and the suspension of interest rate payments to domestic bondholders in 2023 as part of debt restructuring efforts, Deputy Finance Minister John Kumah said on Thursday. The finance ministry later said that no decisions had been finalised, as the West African nation battles to contain…

Drought worsens in Kenya amid insufficient rain

In pastoral areas, herders have already lost 2.5M livestock, according to UN. Andrew Wasike NAIROBI, Kenya  A drought in northern Kenya is worsening, despite the country receiving sporadic rainfall in November, which weather forecasters say will not be sufficient. Chris Ngetich, a climate scientist from the Kenya Meteorological Department (KMD), in a statement noted that…