The Minister of Finance, Ken Ofori-Atta on behalf of the government has expressed appreciation to all individual bondholders who signed up to the Domestic Debt Exchange Program.
The Finance Minister targeted 80% participation in the DDEP by bondholders despite the various challenges it faced.
The DDEP came to an end on February,10,2023 after several extensions of deadlines. The government was able to secure more than 80% target participation of eligible bondholders.
In a statement issued by the Finance Ministry on February 14, 2023, it was noted that the government is grateful to all bondholders who voluntarily signed up to the DDEP. The government also expressed his gratitude to all Ghanaians for their cooperation and support during these difficult times.
According to the statement this voluntary participation by some eligible bondholders will help the country to secure the $3billion extended credit facility from the IMF. It was indicated that purpose of the DDEP is to safeguard our economy and to strengthen our ability to manage our debts effectively.
If the government wasn’t able to secure the 80% target, it would have aggravated the current economic mess we are in now.
The Government therefore wishes to express his immense gratitude to all the bondholders who participated in the DDEP. It was stated that the support of these bondholders has inched the country closer to obtaining the bailout from the International Monetary Fund (IMF).
The statement assured all bondholders who exempted themselves from the program that their coupon payment and maturity period will be paid in accordance to laid down rules.