(Bloomberg) -- Ghana’s financial authorities are reviewing restrictions imposed on pensions funds that limit their investments in offshore assets.
The National Pensions Regulatory Authority previously introduced a requirement that pension funds seek authorization before buying foreign assets as a way to preserve foreign-exchange. The measure was implemented after Ghana began a restructuring of its debt, Nana Akua Asare, a spokeswoman for the NPRA, said by phone on Tuesday.
A review is now being conducted to determine the circumstances under which such investments can be authorized, she said.
Ghanaian law allows private pension funds to invest as much as 5% of their assets in offshore instruments.
Ghana began restructuring almost all of its debt in early 2023 as part of a deal with the International Monetary Fund. The country completed the overhaul earlier this year.
©2024 Bloomberg L.P.