Deadline for Domestic Debt Exchange Programme extended to February 7

Government has extended the deadline for the Domestic Debt Exchange Programme (DDEP) to February 7, 2023.

The Finance Ministry stated in a news release on Tuesday that the revised Exchange Memorandum will affirm the new settlement date of Tuesday, February 14, 2023.

Today, January 31, at 4 p.m., the Program’s first deadline expired.

The Ministry claimed 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” despite the fact that there was considerable disagreement following the announcement of DDEP.

The Finance Ministry announced updates based on its meeting with stakeholders and announces that “based on the agreement reached with the Ghana Association of Banks (GAB), Ghana Insurers Association (GIA), and the Ghana Securities Industry Association (GSIA), the new terms of the exchange have been accepted. A revised and final Exchange Memorandum will be released by Thursday, February 2, 2023.”

According to the Ministry, “based on the engagements with the representative groups of individual bondholders, the following has been offered and will form part of the new Exchange Memorandum:

Read the full statement below:

Source: Ghanatodayonline.com