Ken Ofori-Atta, Finance Minister, has announced that there will be no “haircut” on the principal of bonds and that individuals with government bonds will have total investments on maturity.
In a recent debate about possible haircuts on all bonds and treasury bills following the government’s debt restructuring deal with the International Monetary Fund (IMF), Mr. Ofori-Atta said the government is working hard to minimize the impact of a domestic debt exchange on investors holding government bonds.
In an address on Sunday evening, he said, “Treasury Bills are completely exempted, and all holders will be paid the full value of their investments on maturity. There will be no haircut on the principle of bonds. Individual holders of bonds will not be affected,”
The Finance Minister noted that the government has concluded the broad contours of the debt sustainability analysis and details on Ghana’s domestic debt exchange will be launched on Monday, December 5, 2022.
He said the domestic debt exchange aims to help restore macroeconomic stability
We are confident that these measures will contribute to restoring macroeconomic stability
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