Tag: DDEP
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Govt reopens domestic debt exchange program
Government has reopened its Domestic Debt Exchange Program (DDEP). This to enable individuals who could not sign up to the initial debt restructuring exercise but wish to participate do so now. With this announcement from the Ministry of Finance, the window has been opened for interested investors seeking to hold onto government papers as government…
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Oversubscription of govt treasury bills to continue over DDEP gains – Analyst predicts
Financial analyst, Courage Boti is predicting that government’s treasury bills will continue to be oversubscribed in the coming weeks. This, he attributes to gains made by the government in its debts restructuring exercise. The government has recorded an oversubscription of its treasury bill for two weeks in a row, with last week registering roughly 15.10…
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IMF bailout, DDEP to blame for stalled interchanges – Roads Ministry
The Head of Public Relations at the Ministry of Roads and Highways, Nasir Ahmed Yartey, has indicated that the stalled road interchanges across the country are a result of the country’s International Monetary Fund (IMF) deal and the Domestic Debt Exchange Programme (DDEP). Some key interchanges across the country that yet to be completed include…
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Government achieves 95% participation rate in second round of DDEP
Government has achieved a 95% participation rate across its three latest debt exchange programmes. The Finance Ministry revealed that in the first program, which focused on pension funds, nearly 95% of eligible bondholders identified by the Central Securities Depository participated. Pension funds agreed to exchange GHS 29 billion out of the existing GHS 31 billion…
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Gov’t determined to mobilize liquidity to meet future DDEP obligations – Amin Adam
Minister of State for Finance, Dr. Mohammed Amin Adam has reaffirmed government’s commitment to securing the necessary liquidity to meet forthcoming obligations within the ambit of the Domestic Debt Exchange Programme (DDEP). This comes on the heels of the successful settlement of the inaugural coupon payment due under the DDEP, amounting to a significant GH¢2,369,667,190.18,…
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Payment of DDEP coupons has restored credibility in our economy – Amin Adam
Minister of State in charge of Finance and Economic Planning, Dr. Mohammed Amin Adam has stated that government’s successful payment of coupons under the Domestic Debt Exchange Programme (DDEP) has significantly restored credibility in Ghana’s economy. According to him, the coupon payment underscores the government’s unwavering commitment to its debt obligations, as outlined within the…
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Deadline for dollar-denominated bonds, pension funds DDEP administratively extended to Aug. 25
That government has announced an “administrative extension” of the alternative offer of the domestic dollar bonds and pension funds to August 25, 2023. The alternative offers had earlier closed on August 4, 2023, despite indications by the Ministry of Finance that participation reached approximately 91%. However, in a statement issued today, Tuesday, August 21, 2023,…
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Govt settles first coupon for bonds affected by DDEP
The government of Ghana, through the Ministry of Finance, has begun the process of settling the first coupon payment of bonds affected by the domestic debt exchange program (DDEP). According to the Ministry, the matured coupons amount to GHC 2.4 billion, and instructions have already been sent for settlement. The DDEP was launched in 2022…
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ADB records GHS 371m loss in 2022 but steadily picking up as H1 profit hits GHS 52m
Despite the impact of the Domestic Debt Exchange Programme on the banking sector which has caused the Agricultural Development Bank (ADB) Plc to lose over GHS 370 million in the 2022 financial year, ADB is making strides in its profitability for the first half of 2023. For the first half of 2023, the bank has…
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COCOBOD extends deadline for debt exchange to August 18
The Ghana Cocoa Board (COCOBOD) has once again revised the deadline for its debt exchange programme to Friday August 18 from the initial announcement of August 3, 2023. The new announcement date has also been revised to Monday, August 21, 2023 while the settlement date now shifted to August 25. On July 14, the Ghana…