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.
"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.
Steering members of the committee include Abrdn, Amundi, BlackRock, Greylock Capital Management and Ninety One.
Ghana, which is struggling with its worst economic crisis in a generation, has already struck a deal to write down its domestic debt and has also requested to rework its bilateral debt under the common framework platform supported by the Group of 20 major economies.
An official creditor committee for talks with sovereign creditors such as China and the Paris Club is still pending.
Finance minister Ken Ofori-Atta traveled to China last week to discuss on ways to reduce the country's debt burden and secure additional financing assurances for the economic program. Ghana recently said it owed to Chinese creditors $1.9 billion.
The country secured a staff-level agreement with the International Monetary Fund (IMF) in December for a $3 billion loan, though asking bilateral lenders to provide financing assurances is a condition for the IMF's executive board to sign off the program.
