Dep. Finance Minister confirms over 50% bondholder participation in DDE
The government’s Domestic Debt Exchange Program (DDEP) has seen over 50% participation from bondholders, according to Deputy Finance Minister Abena Osei Asare.
The government had aimed for 80% participation, and with more than half of its target achieved, the Finance Ministry has granted a three-day administrative window for bondholders to finish the process.
The DDEP will now conclude on Friday, February 10th.
Sources reveal that the high demand from bondholders near the original deadline put stress on the IT infrastructure.
However, the extension has given more opportunity for those who were unable to participate in the program due to technical difficulties.
In an interview, Madam Osei Asare stated, “As of yesterday, when we decided to extend and grant that administrative window, we had done above 50 percent.”
The government hopes to reach its 80% participation goal with the additional time, and the extension has been positively received by bondholders.
