By Morkporkpor Anku
Accra, Jan. 18, GNA – The government and representatives of Individual Bondholders have agreed to set up a technical committee to review the Bondholders’ petition against their involvement in the Domestic Debt Exchange Programme (DDEP).
The Committee, which will meet on Thursday, January 19, 2023, will have two members from the bondholders.
It will explore other options going forward to make the implementation of the programme successful.
Mr Ken Ofori-Atta, the Minister of Finance, briefing the media after a closed-door meeting with the representatives, expressed excitement about the fruitfulness of the engagement, saying, “everyone has understood the country’s economic situation and ready to support the recovery”.
On December 5, 2022, the Government of Ghana launched Ghana’s Domestic Debt Exchange programme, an invitation for the voluntary exchange of approximately GHS137 billion of the domestic notes and bonds of the Republic, including E.S.L.A. and Daakye bonds, for a package of New Bonds to be issued by the Republic.
The Individual Bondholders after the announcement petitioned the Minister of Finance for their exemption from the programme.
They asked the government for total withdrawal from the programme, saying the move to include them was unconstitutional, and that it would affect their livelihoods.
Mr Ofori-Atta commended the leadership of the Bondholders for their readiness and commitment to continue engagement with the Ministry in the implementation of the programme.
Mr Senyo Hosi, the Convener of the Individual Bondholders Forum, also lauded the efforts of the Minister to engage them for an amicable settlement of the issues.
He said they were committed to working with the Minister on the revenue mobilisation streams and expressed hope that they would find a common path going forward as a country.
Mr Hosi said they were also committed to working with the Minister on ways to rationalise expenditure sustainably.
GNA