Ghana eurobonds jump after $3 billion IMF bailout moves forward

JOHANNESBURG (Reuters) – Ghana’s international sovereign dollar bonds rose on Friday after the West African country reached a staff-level agreement with the International Monetary Fund on the first review of its $3 billion bailout loan program.

Longer-dated maturities jumped the most, with the 2061 bond rising just over 1 cent to 41.504 cents on the dollar at 1204 GMT, according to Tradeweb data. Most of the bonds are still trading at deeply distressed levels of 41-44 cents on the dollar.

(Reporting by Rachel Savage, Editing by Libby George)