• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

T-Bills exempted from debt exchange programme – Ofori-Atta reassures investing public

3 years ago
in Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
95
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

T-Bills exempted from debt exchange programme – Ofori-Atta reassures investing public

Minister for Finance, Ken Ofori-Atta has reassured the investing public of Government’s commitment to excluding treasury bills from the domestic debt exchange programme.

In a yet-to-be-aired interview on Joy News, the Minister avers it will be suicidal for government’s own finances and fundraising programmes in the future, should it decide to touch T-bills as part of the debt exchange programme.

According to him, the Debt Sustainability Analysis conducted on the economy which necessitated the debt exchange programme does not include T-bills.

“We can’t afford to touch it. Let me assure you, Treasury bills will forever remain sacrosanct. Treasury bills are exempted completely. We have done the sustainability analysis. We are not including treasury bills. That is how government funds its operations”, he remarked.

Government has heavily relied on T-bills to fund its operations after it announced in December 2022, that it will embark on debt exchange programme.

The programme, which is a major requirement for an International Monetary Policy deal requires that government present feasible roadmap aimed at reducing the country’s debt stock.

RelatedPosts

Top Three African Countries Leading the Golden Visa Race

Hot Money Accounts for 90% of Nigeria’s Capital Importation

President Mahama Urges Ghanaians to Channel Helicopter Tragedy Grief into Renewed Commitment and National Progress

Government in a term sheet document published on the Finance Ministry’s website on the “Eligible Bonds Under the Programme” noted that Subject to the invitation to the exchange  (Collectively Eligible Bonds,  Treasury Bills) issued by the Republic and Certain Non Market securities issued by the  Republic  are not subject  this invitation  to Exchange. Such Treasury Bills and Non- Marketable Securities may however be the Subject of other Exchanges and Purchases by the Government of Ghana from time to time.

This fueled speculations that that government that will soon touch T-Bills.

The 2023 Budget showed that Ghana’s total public debt stock ending September 2022 reached GHS 467.4 billion, representing 75.9% of GDP – currently above 100% of GDP.

This was up from GHS 352.1 billion at the end of December 2021.

The increase in the debt stock is mainly attributable to exogenous factors which resulted in rising interest cost and depreciation of the local currency.

The development has led to some arguing that current challenges that we are facing is due to the excessive borrowing by the government.

But the Finance Minister, Ken Ofori Atta, insists, these borrowed funds were advanced towards some infrastructure projects.

 

Tags: Debt Exchange ProgrammeOfori-AttaT-billsT-Bills exempted from debt exchange programme - Ofori-Atta reassures investing public
No Result
View All Result

Highlights

How Dirt Batteries Could Power the Energy Transition

Gold Futures Jump to Record High on US Tariff Surprise

CHAN 2024: Tanzania Advance to Quarter Finals; Mauritania Revive Campaign With Win Over C.A.R

Sinner and Swiatek Dominate in Cincinnati Open Second Round

Chelsea Seeks to Build on Club World Cup Success with Ambitious New Signings

BoG Reports 15.19% Decline in Dud Cheques Issued in 2024

Trending

Features

Top Three African Countries Leading the Golden Visa Race

August 10, 2025

Top Three African Countries Leading the Golden Visa Race Global investors are increasingly seeking flexible residency and...

Hot Money Accounts for 90% of Nigeria’s Capital Importation

August 10, 2025

President Mahama Urges Ghanaians to Channel Helicopter Tragedy Grief into Renewed Commitment and National Progress

August 10, 2025

How Dirt Batteries Could Power the Energy Transition

August 10, 2025

Gold Futures Jump to Record High on US Tariff Surprise

August 10, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.