The government says it has secured GH¢3.9 billion in the reopened Domestic Debt Exchange Programme (DDEP).
The Ministry of Finance in a statement issued on Tuesday said, “This represents a significant achievement for the government, which is seeking to fully implement its COVID-19 programme for economic growth in the face of the prevailing economic situation.”
The statement added that no new tenders would be accepted, and no revocations or withdrawals would be permitted.
“The government deeply expresses its appreciation to bondholders and key stakeholders for their immense support of the DDEP, the results of which constitute a significant achievement for the government to implement fully the economic strategies in the post-COVID-19 Programme for Economic Growth (PC-PEG) during this current economic crisis,” the statement said.
The domestic debt exchange programme is part of the government’s efforts to reduce its debt burden and improve its debt sustainability.
The programme has been met with some resistance from some bondholders, but the government has argued that it is necessary to ensure the long-term health of the economy
Source: GhanaianTimes