09
Dec
President of the Ghana Insurers Association, Seth Aklatsi, says the government’s debt exchange programme as proposed by the Finance Minister, threatens to entirely collapse the insurance industry in Ghana. The programme, which was announced 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 in 2027, 2029, 2032 and 2037 – all in a bid to restore the nation’s capacity to service its debt.…