By Jibril Abdul Mumuni
Accra, Oct. 6, GNA – Mr Elliot Amoako, Head of the Resolution and Restructuring Unit of the Bank of Ghana (BoG), has urged greater use of restructuring to revive viable distressed businesses.
He said some businesses faced temporary liquidity constraints and could regain financial stability through effective restructuring rather than immediate liquidation.
Mr Amoako made the call on Tuesday at a masterclass organised by the Chartered Institute of Restructuring and Insolvency Practitioners (CIRIP) as part of its 20th anniversary celebrations.
He said restructuring could involve debt renegotiation, new financing and changes to management or business operations.
Under Ghana’s Corporate…