Tag: Domestic Debt Exchange
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Govt strikes deal with Insurance Association on debt exchange programme
The government and the Ghana Insurers Association (GIA) have made headway on the terms of the Domestic Debt Exchange Programme for insurance companies. This was announced in a joint statement by the Ministry of Finance and the Association issued on Thursday, January 26, 2023. “The insurance companies will participate in the exchange on similar terms…
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Completely exempt individuals from DDEP over GAB agreement – Senyo Hosi to govt
The Convener of the Individual Bondholders Forum, Senyo Hosi, has stated that the agreement between the Ministry of Finance and the Ghana Association of Banks on the Domestic Debt Exchange Programme (DDEP) affirms their position for individuals to be completely exempted. In a statement, Mr Hosi hailed the agreement between the Ministry of Finance and…
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DDE: Banks secure 5% coupon for 2023; other revisions
The government has revised some terms of its Domestic Debt Exchange Programme (DDEP) following discussions with the Ghana Association of Banks. Hitherto, the new bonds under the programs were not to accrue any interest until 2024, starting at 0% coupon in 2023 which steps up to 5% in 2024 and 10% from 2025. But after…
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Banks seek shorter maturities in local debt-swap deal
Ghanaian banks are holding out for better terms in a domestic bond-exchange program aimed at easing the government’s debt-service burden. This is according to Bloomberg. No bank will make a profit in 2022 if they accept the new bonds offered under the exchange, and some face collapse, according to two people familiar with ongoing talks…
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Government extends Domestic Debt Exchange deadline for 3rd time
The government has extended the deadline for the Debt Exchange Programme to Tuesday, January 31, to enable it to build consensus for the programme. This is the third time the government has extended the deadline for the bondholders to voluntarily exchange their bonds for new ones. A tweet by the Ministry of Finance on Monday…