Government is making efforts to finalize the domestic debt restructuring by September 2023, according to sources familiar with the matter
Their plan Citi Business News has gathered includes concluding the dollar-denominated domestic debt exchange program, cocoa bills exchange program, and pension funds by the end of next month.
Furthermore, the government is actively pursuing a successful engagement with the Independent Power Producers for a program as soon as possible.
The government has initiated an alternative offer for pension funds exchange, inviting holders of domestic notes and bonds of the central government, E.S.L.A Plc, and Daakye Trust Plc.
It will also exchange debt in the energy sector, including independent power producers (IPPs), cocoa bills, local US dollar-denominated bonds, and Bank of Ghana non-tradable debt, as part of efforts to bring the country’s debt to sustainable levels.
The Minister of Finance, Ken Ofori-Atta, who disclosed this when he presented the Mid-year Budget Review to Parliament yesterday, said the DDEP had provided the government with increased fiscal flexibility and addressed cash and other liquidity constraints.
He, however, said to complete the domestic debt operations, the government intended to further pursue discussions around some other domestic debt instruments excluded from the DDEP perimeter.