Ghana’s ban on its pension funds from offshore investments is curtailing their ability to hedge risks, executives said, as authorities seek to jumpstart the domestic bond market in the wake of its sovereign debt restructuring.
The government in Accra blocked funds from putting workers’ cash into offshore investments last year after concluding a restructuring of its local and foreign debts, which decimated its local debt market – once a destination for major international asset managers like Franklin Templeton.
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