09
Dec
The Executive Secretary of the Ghana Association of Savings and Loans Companies (GHASALC), Tweneboa Kodua Boakye, says depositors are withdrawing their fixed deposits in panic. The phenomenon he says has largely been fuelled by the uncertainty among the general public following the government’s announcement of its debt exchange programme. The programme, which was announce by Finance Minister, Ken Ofori-Atta will result in a slash in interest payments for domestic bondholders to zero percent in 2023 and five percent in 2024. Again, existing domestic bonds as of December 1, 2022, will be exchanged for a set of four new bonds maturing…