The government has achieved over 80% participation of eligible bonds in its Domestic Debt Exchange Programme (DDEP), a statement from the Finance Ministry has said.
The ministry in the statement reassured all individual bondholders who elected not to participate that their coupon payments and maturing principals, like all government bonds, will be honoured in line with government fiscal commitments.
“The DDEP is being done to help protect the economy and enhance our capacity to service our public debts effectively. The alternative of 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,” the statement added.
The Ministry of Finance said it has also taken note of all additional input made by various stakeholders during the DDEP engagement to further streamline government’s expenditures and “wish to assure Ghanaians of our full commitment to addressing these issues”.