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Coupon payments and maturing principals will be paid – Government assures

Source The Ghana Report

The Government has assured all individual bondholders who did not participate in the Domestic Debt Exchange Programme that their outstanding coupon payments and maturing principals will be paid. 

According to the government, this will be done with Government fiscal commitments.

In a statement issued by the Ministry of Finance on Tuesday, February 14, it said; “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 Government also thanked the people of Ghana for their support and contribution.

“The DDEP is being done to help protect the economy and enhance our capacity to service our 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.”

The Government’s Domestic Debt Exchange Program (DDEP) officially closed on Friday, February 10, 2023.

Government subsequently announced that it achieved more than the 80% 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).

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