IMF bailout: Government engaging 4 advisory firms on debt management – Redd Intelligence

The government of Ghana is said to be engaged with four different advisory firms on the economic policy and debt management of the country in the wake of ongoing negotiations with the International Monetary Fund. This is according to a Joy Business report attributed to Redd Intelligence, a Singapore-based finance and market research firm. The four advisory firms are said to be engaging government on an informal basis due to the negotiations not yet being formalized. The firms, according to Redd Intelligence include; Lazard which is an investment bank; sovereign advisory firm, Global Sovereign Advisory; law firm Hogan Lovells and investment banking and advisory firm, Lion’s Head Global Partners. The finance and market research firm said although government’s engagement with the IMF is still in the early phases, “there is a push, however, for external bondholders to organise in the next several weeks”. “Two external bondholder committees are likely. Holders of part-guaranteed 2030 Eurobond may want to set up a separate group”, Redd Intelligence noted. Meanwhile, the Singapore-based finance company said investment bank, Lazard has been primed to be selected as the financial advisory with the view of pairing with law firm Hogan Lovells on a joint mandate to offer advisory services to Ghana. In addition to this, consultancy services firm focused on economic and financial strategy Global Sovereign Advisory (GSA) is said to be working with the government of Ghana while investment banking, asset management and advisory firm, Lion’s Head Global Partners is also engaged with government with focus on emerging and frontier markets. MA/FNOQ