DDE: Insurance industry participates in debt exchange on similar terms as banks
The Ghana Insurers Association (GIA) has reached an agreement with the government over the terms of its participation in the Domestic Debt Exchange (DDE) programme.
The deal, which mirrors the terms agreed with the Ghana Association of Bankers (GAB) last week, will see the government provide support to insurance companies that are seriously affected by the DDE through the solvency window of the Ghana Financial Stability Fund (GFSF).
The agreement aims to protect jobs and the stability of the industry, according to a joint statement issued by the Ministry of Finance and the GIA.
The GAB had initially rejected the DDE programme as announced by the government, but later agreed to participate following engagements with the Ministry of Finance.
