Finance Minister Ken Ofori-Atta has urged bondholders who have yet to enroll onto the revised Debt Exchange Programme to do so.
In an address on Monday, he enumerated the dire consequences non-participation in the programme will have on the economy.
According to him, “non-participation or a lower-than-expected turnout for the DDEP will prolong efforts to resolve the current economic crisis.”https://www.youtube.com/embed/wthkOZJ4GIA?feature=oembed
He went on to say that not signing up for the programme will jeopardise the prospects of international financial support and other financial assurances.
This, in his view, could prohibit the government from honouring key commitments because it could “put strain and stress on the Government’s capacity”, adding that “this is not what we want for our economy.”
For this reason, he noted that he expects the full participation of institutional stakeholders and mobilisation of all qualified investors, to ensure the success of the debt exchange.
He also urged eligible individual bondholders to voluntarily tender their holdings.
“Ladies and Gentlemen, tomorrow is the final deadline for this programme and we are hopeful that all domestic investors will participate,” he appealed.
Meanwhile, the Finance Minister has noted that the participation of banks, insurance companies, and the securities industry in the enhanced DDEP is a significant milestone that represents a response to a call to national duty.
This, he described as a “critical step to restore macro-economic stability; accelerate Ghana’s economic growth under an IMF Programme; and leverage other international financial support.”
