The government has assured individual bondholders and groups who did not sign up for the Domestic Debt Exchange Programme (DDEP) of the payment of their outstanding coupons and maturing principals.
The Ministry of Finance, in a statement issued on Tuesday, February 14, said the payments will be done in line with the government’s fiscal commitments.
“The Government would like to reassure all individual bondholders who elected not to participate that your coupon payments and maturing principals, like all Government bonds, will be honoured in line with Government fiscal commitments,” the statement said.
The government, in the statement, also thanked the people of Ghana for their support and contribution, adding that the DDEP is being done to help protect the economy and enhance the country’s capacity to service its public debts effectively.
“The alternative for not executing the DDEP would have brought grave disorder in the servicing of our national debt and exacerbated the current economic crisis.
“The Government is, therefore, grateful for the overwhelming participation of all bondholders. Your support and contributions have gotten your country much closer to securing the IMF programme,” it indicated.
The government earlier disclosed that it achieved more than the 80 per cent target needed for the Domestic Debt Exchange Programme (DDEP).
The programme is part of the requirements before Ghana can secure an economic bailout of about $3 billion from the International Monetary Fund (IMF).
