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The Minister of Finance Ken Ofori-Atta has announced the Domestic Debt Exchange programme that was introduced by the government in the 2023 budget.
He announced this at a press conference in Accra on Sunday December 4.
Under the programme, he said, ” domestic bond holders will be asked to exchange their instruments for new ones.”
He added “Existing domestic bonds as of 1st December will be exchanged for a set of four new bonds maturing in 2027, 2029, and 2037.”
The annual coupons on all of these bonds will be set at 0 % in 2023, 5% in 2024 and 10% from 2025 until maturity.
“Coupon payments will be semi annual ‘ he stressed.
By Laud Nartey/3news.com/Ghana