Domestic Debt Exchange Programme Archives - Page 2 of 2

07 Feb

Remarkable Progress With Ongoing IMF Programme Is Significant To Recovery Efforts; Momentum Must Be Sustained – Ofori-Atta

wontumionlineBusinessDomestic Debt Exchange Programme, imf, Ken Ofori Atta

Finance Minister, Ken Ofori-Atta, has stated that the government has made a significant progress with the ongoing International Monetary Fund Programme (DDEP) which is significant boost to the country’s recovery efforts. According to him, the continuous progress will steer Ghana further away from the “slippery precipice” it recently faced. Addressing the nation on the Domestic Debt Exchange Programme vis-à-vis the IMF programme, the Finance Minister said the momentum must be sustained. “Our remarkable progress with the ongoing International Monetary Fund Programme is a significant boost to our recovery efforts. Continuous progress will steer us further away from the slippery precipice…

07 Feb

DDEP Will Get Economy Fully Back On Track – Ofori-Atta

wontumionlineBusinessDomestic Debt Exchange Programme, Economy, Ken Ofori Atta

Finance Minister Ken Ofori-Atta has called on bondholders to sign up for government’s Domestic Debt Exchange Programme as the expiration date is to be due on February 7. This, according to him, is to ensure the economy is restored. “What we want is an economy that is back on track, stable, vibrant, productive, dynamic; meeting the needs of individuals, households, and enterprises; delivering shared and inclusive growth; and improving incomes and livelihoods,” he pointed out. He reiterated that government’s objective for the programme is to “restore macro-economic stability, achieve debt sustainability and get the economy fully back on track.” “We…

06 Feb

Government Unlikely To Pay ¢4.185bn 5-Year Bond Maturing On February 6, 2022

wontumionlineBusiness5-year bond, Domestic Debt Exchange Programme, Eligible Bondholders, Government

The Government of Ghana is not likely to pay a ¢4.185 billion 5-year bond maturing today, February 6, 2023. This is because it has already been included in the 2nd Amended and Restated Exchange Memorandum of the Domestic Debt Exchange Programme (DDEP). However, it is unclear whether the government will honour the interest payment of the debt instrument. Ideally, the government would have roll-over the instrument, but market conditions make it unlikely to do so. Some market analysts and traders have told Joy Business on condition of anonymity that the government will not honour its obligation as stated in the…

01 Feb

Cedi To Remain Stable Against Dollar

wontumionlineBusinessCEDI, dollar, Domestic Debt Exchange Programme, imf

The Ghana cedi is expected to remain stable and probable improve its value against the dollar in the coming days and weeks. This is due to significant steps made by the government to achieve the Domestic Debt Exchange programme target. The completion of the programme will pave the way for the crucial International Monetary Fund Board approval of a support programme for Ghana. The Ghana cedi has in the past week exhibited stability against the US dollar after a poor performance in January 2023. It gained a marginal 0.78% value to the American greenback last week to trade at about…

31 Jan

Deadline For Domestic Debt Exchange Programme Extended To Feb 7

wontumionlineBusiness, NewsDomestic Debt Exchange Programme, Finance Ministry, Ken Ofori Atta

Government has extended the deadline for the Domestic Debt Exchange Programme (DDEP) to February 7, 2023. The Finance Ministry in a press release on Tuesday added that a new settlement date of Tuesday, February 14, 2023, will be confirmed via the new Exchange Memorandum. The original deadline for the Programme expired at 4 pm today, January 31. Amidst lots of disagreement following the announcement of DDEP, the Ministry said it “has made significant progress with all stakeholders, including financial sector industry associations and representative groups of individual bondholders, with respect to their participation in the Programme.” The Finance Ministry announced…

23 Jan

Uncertainty To Weigh On Equities Market In 2023 – Analysts

wontumionlineBusinessDomestic Debt Exchange Programme

Uncertainties arising from the impending Domestic Debt Exchange Programme (DDEP), coupled with rising interest rates and foreign exchange fluctuations, will take a toll on the equities market say analysts. “The situation has not only affected investor confidence in the financial sector but is also likely to have a negative impact on the stock market. Investors are looking to redeem their funds and expecting the coupons from their bond investments; but with government propositions, they are not getting the expected returns. This means that diversification will be a problem, and the stock market may be affected as some will look for…

16 Jan

Government Extends Deadline For Debt Exchange Programme To January 31

wontumionlineBusiness, NewsDomestic Debt Exchange Programme, Economy, Ken Ofori Atta

The Government has extended the deadline for its domestic debt exchange programme to January 31. This according to the state is to deepen stakeholder engagement on the proposed policy. A tweet by the Ministry of Finance on Monday explained that, the extension is to rally consensus towards a successful implementation of the programme. “Building consensus is key to a successful economic recovery for Ghana. “Pending further stakeholder engagement with institutional and individual investors, recently invited to join the debt exchange programme, government is extending the expiration of the DDE to Jan 31, 2023”, the tweet said. https://twitter.com/oofmghana/status/1614946436793176064?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1614946436793176064%7Ctwgr%5E93de805a79d3338744f748cf36181d5cc0fe9e79%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.myjoyonline.com%2Fgovernment-extends-deadline-for-debt-exchange-programme-to-january-31%2F Reacting to the…