He said, “The government has recognized the difficulties of the inevitable debt operation necessary to bring our debt to a sustainable level. This recognition by the government is reflected in the willingness to participate and accommodate the proposals that have come from various stakeholders.”
“In addition, the government’s target is to address fiscal consolidation and revenue-generating measures and ensure that the economy stabilizes quickly,” he said.
However, the Deputy Minister of Finance, Abena Osei Asare has indicated that the Debt Exchange Program has achieved 50% participation so far.
In an interview on Accra-Citi FM, he said the government expects to achieve 80% participation in the domestic debt swap programme.
“As of yesterday, when we decided to extend and give that administrative window, we have done more than 50 percent,” he said.
He also said the government hopes that more bondholders who were unable to submit documents on Tuesday will complete the process before Friday’s deadline.
The government on Tuesday, February 7, 2023, extended the window for bondholders to complete the tender process as part of the controversial domestic debt exchange program.
The deadline to register for the program expires on Tuesday, February 7, 2023, but the government in a press statement last night said that some bondholders faced “technical difficulties when trying to complete the online tender process” so the window to enable them to complete the process.