Gov’t changes course, excludes individual bondholders from debt exchange programme
Individual bondholders in Ghana have been granted an exemption from the Domestic Debt Exchange (DDE) programme, according to the country’s finance minister, Ken Ofori-Atta.
This news follows the government’s recent decision to suspend interest payments on bonds for the 2023 financial year in an attempt to revive the economy and secure a deal with the International Monetary Fund (IMF).
The head of the Individual Bond Holders Association of Ghana (IBHAG), Martin Kpebu, stated that the finance minister had promised to pay bondholders their coupons and principals as they fall due, effectively exempting them from the DDE programme.
The group is now awaiting formal confirmation of their exemption from the debt treatment from the finance minister.
Read the statement by the IBHAG:
It is a step in right direction individual bond holders are ready patriotic citizens The government should rather motivate them Please Government don’t hurt this people Give them a better share .They really economical and has really decided to help the government Please encourage others to do likewise. Others are riding in vig cars with their money whilst these people are saving for a better future for their government and family.