The new year has started with economies in Sub-Saharan Africa bracing for disruptions due to the end of zero-COVID in China and a looming global recession. While these are likely to pass by mid-year, tight domestic policy will remain a drag. In Ghana, the authorities are considering bringing their external debt restructuring efforts under a multilateral framework, which on the face of it, is good news. But pitfalls remain and we don’t anticipate a quick deal with creditors or the IMF.
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