DDEP: Govt provides administrative window to bondholders after deadline

Government is pro­viding bondholders an administrative window to complete processes for tendering their bonds to complete tender process.

The administrative window, which ends at 4 p.m. on Friday, was necessitated by technical glitches detected in the tendering process.

The Minister of Finance, Mr Ken Ofori-Atta, announced this in a statement in Accra yesterday after the official closing of the Domestic Debt Exchange Pro­gramme yesterday.

“Government wants to use this opportunity to thank all bondholders who tendered their bonds,” it said.

The statement then urged all eligible bondholders who were unable to complete the process due to the technical glitches to visit the website of the Central Securities Depository (www.csd. to complete the process.

“The timetable of the Ex­change is not otherwise affected by this administrative window, except for the announcement date, which is now expected to occur on Monday, February 13, 2023,” it said.

The statement said the settle­ment of the Exchange was, how­ever, still scheduled for Tuesday, February 14, 2023.

It said hence, the terms and conditions of the Exchange had not been modified or amended as they remained in response to the terms of Exchange.

Ghana in December last year reached a staff-level agreement with the IMF on economic poli­cies and reforms to be supported by a new three-year arrangement under an Extended Credit Facility (ECF) of about US$3 billion.

The approval by IMF manage­ment and the Executive Board in the period ahead is contingent on receiving financing assuranc­es from Ghana’s partners and creditors.

Ghana is targeting to get 80 per cent participation in the DDE programme, which deadline has been shifted three times, to con­tinue processes to get the approval by March this year


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