Ghana, bondholders' advisers kick off debt talks under non-disclosure agreements – sources

Ghana's government and international bondholders are pushing forward with formal debt talks after advisors to both sides signed non-disclosure agreements, three sources with direct knowledge of the matter told Reuters.

The West African country, which suspended payments on most of its external debt last year, has picked Lazard as its financial adviser, while a group of international private lenders are represented by Rothschild & Co. Ghana's dollar-denominated debt is more than $13 billion across maturities ranging from 2023 to 2061, according to Refinitiv data.

After signing the NDAs earlier this month, both parties cannot share any information under the agreement with any non-authorized party.

"The government and the bondholders are sharing sensitive material through the advisers, like the revenues that could be used to service the debt and the restructuring parameters the creditors are aiming for," said one of the sources, who asked not to be named because talks are private.

Lazard and Rothschild & Co declined to comment.