The government has extended the Settlement Date of the Exchange from the previously announced 14th February 2023 to 21st February in the Domestic Debt Exchange Programme (DDEP).
This is to provide sufficient time to settle the New Bonds in an efficient manner, a statement issued by the Ministry of Finance said on Tuesday February 14.
“To provide sufficient time to settle the New Bonds in an efficient manner, the Government is extending the Settlement Date of the Exchange from the previously announced 14th February 2023 to 21st February 2023”, the statement indicated.
The Ministry earlier expressed gratitude to all bondholders who voluntarily participated in the DDEP.
The Programme closed on Friday, February 10 after multiple deadlines.
The Minister of Finance, Ken Ofori-Atta, had targeted over 80 percent participation amid agitations among individual bondholders and some Senior Citizens, who sought exemption from the Programme.
“The Government’s Domestic Debt Exchange Programme (DDEP) closed on Friday 10th February 2023 with over 80% participation of eligible bonds,” opened a statement issued by the Ministry of Finance on Tuesday, February 14.
“The Government wants to thank the people of Ghana for their forbearance and support throughout these very difficult times.”
It said by the participation of the voluntary bondholders after the closure of the Programme on Friday, the country has inched closer towards securing the $3billion extended credit facility (ECF) from the International Monetary Fund (IMF).
“The DDEP is being done to help protect the economy and enhance our capacity to service our public debts effectively.
“The alternative of not executing the DDEP would have brought grave disorder in the servicing of our national debt and exacerbated the current economic crisis.
“The Government is, therefore, grateful for the overwhelming participation of all bondholders.
“Your support and contribution has gotten your country much closer to securing the IMF programme.”
It asked individual bondholders, particularly pensioners, who did not participate in the Programme, to be rest assured that their coupon payments and maturing principals will be honoured in line with laid-down rules.
By Laud Nartey|3news.com|Ghana