Pan-African banking group Ecobank has more than doubled its impairment losses on Ghana’s distressed Eurobonds to $183 million, underscoring the extend of risks that African lenders are facing in their investments in sovereign bonds.
The Lome-based lender says it also excluded about $39 million in interest income earned on the $13 billion Ghanaian Eurobonds from its 2023 financial statements, owing to the ongoing and yet-to-be-concluded restructuring discussions with commercial bondholders.
