Finance Minister appeals to bondholders for continued sacrifice in debt clearance efforts
Finance Minister Ken Ofori-Atta, is appealing to bondholders to remain steadfast in their commitment and sacrifices as the government diligently works towards clearing all outstanding debts owed to them.
Acknowledging the challenging economic landscape, Mr Ofori-Atta emphasizes the need for patience, citing liquidity constraints as a significant hurdle that requires careful navigation.
The Minister’s plea comes in response to Individual Bondholders’ decision to suspend their planned picketing at the Ministry of Finance following partial payments made to them.
The Finance Minister recognizes the difficulty of the period, highlighting the uncertainties faced by the country since July last year.
“We have undergone an extremely challenging period, with uncertainty looming over our nation’s trajectory,” noted Ofori-Atta. “Through concerted efforts and determination, we obtained fund approval in May 2023. However, it is crucial that we continue to make sacrifices, given the liquidity constraints we currently face. As a united nation, we must adopt a shared language of understanding during this critical phase of rebuilding and achieving stability.”
The Finance Minister assures bondholders that every effort will be made to prevent their return to the Ministry over outstanding debts. Technical experts are actively engaged in discussions to address these concerns, with the Finance Minister expressing gratitude for the progress achieved thus far and stressing the importance of collective appreciation for Ghana’s non-normal circumstances.
“The ongoing consultations by our technical team have yielded positive outcomes thus far, and we must all recognize and be grateful for the faithfulness we have experienced,” Ofori-Atta affirmed. “As Ghanaians, we must internalize the understanding that these are extraordinary times. Rest assured, we are steadfast in our commitment to successfully resolve these challenges.”
The Finance Minister’s call for continued support from bondholders underscores the significance of their contribution to Ghana’s debt resolution efforts. While navigating liquidity constraints remains a formidable task, the government’s commitment to ensuring the fulfillment of its obligations demonstrates its determination to restore stability and regain confidence in the nation’s economic future.
