The government has pledged that it will continue to honour all future payments under the new bonds issued as part of the Domestic Debt Exchange Programme (DDEP).
“Ghana hereby reiterates its commitment to honouring all future payment obligations in accordance with the terms of the new arrangements,” the Ministry of Finance said in a statement issued in Accra yesterday and copied to the Ghanaian Times.
The statement was to express appreciation to the stakeholders who participated in the DDEP after the government paid for the first coupon of the new bonds under the DDEP which matured in August, 22, 2023.
The Ministry of Finance on Tuesday honoured its commitment and fully settled the first coupon due under the DDEP in the amount of approximately GH¢2.4 billion.
The government in December 5, 2022, launched the DDEP to complement its fiscal programme as part of the three-year $3 billion deal with the International Monetary Fund (IMF) to support balance of payment and restore macroeconomic stability of the country.
Under the terms and conditions of the DDEP, the first coupons of the tendered bonds
were due on 22nd August, 2023, following the maturity of some of the coupons.
The statement said the new bonds issued now stood as the dominant instruments in the domestic bond market, laying the basis for rapid economic recovery.
“Government re-affirms its commitment to the success of the new bonds and a credible and strong domestic securities trading market,” the Ministry of Finance said.
The statement said the Ministry of Finance was grateful to all the stakeholders, especially bondholders, who voluntarily responded to the national call and participated in the DDEP.
“The Ministry of Finance appreciates the sacrifices, forbearance and partnership of all Ghanaians in helping the government to lead the nation to turn the corner towards restoring macroeconomic stability and inclusive growth,” the statement said.
BY KINGSLEY ASARE
