DDE: IBF, IBHAG secures GHS 1.77bn for its members
The IBF and IBHAG have successfully secured GHS 1.77bn in bond principal and coupon payments for their respective members.
The was made known by Senyo Hosi during a joint virtual meeting held by IBF and IBHAG on May 9, 2023 which was attended by members of the two bodies and key stakeholders in the financial industry.
According to Senyo Hosi, the amount secured represents 16 out of the total 36 coupon and principal payments to be honoured by the government. This development is a significant feat for IBF and IBHAG, who have been advocating for the payment of principal and coupons for their members on the back of the DDEP.
The successful securing of bond principal and coupon payments by IBF and IBHAG underscores the critical role played by the two institutions.
Furthermore, Hosi stated that all structured bonds, including the Energy Sector Levy Act (ESLA) and the Daakye Bond have so far been honoured by the government, a positive development that demonstrates the government’s commitment to fulfilling its financial obligations. The fulfilment of these obligations is essential in maintaining investor confidence in the financial markets, as it demonstrates government’s willingness to honour its debt obligations.
Hosi further noted that the government has made 9 out of 29 payments on its GoG debt. This is another positive development that points towards the government’s commitment to managing its debt obligations effectively. Managing debt is a critical component of maintaining macroeconomic stability and attracting foreign investment, and the government’s progress in this regard is encouraging.
Overall, the successful securing of bond principal and coupon payments by IBF and IBHAG, coupled with the government’s fulfilment of its debt obligations, bodes well for the financial industry.
