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DDEP: Submit your old bonds for new ones - Government to domestic dollar bondholders

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Fri, 14 Jul 2023 Source:

Government, through the Ministry of Finance, has invited eligible domestic dollar bondholders to exchange their bonds for new ones.

According to the Ministry of Finance, a successful completion of the domestic debt exchange programme will help the government bring back the local economy on track, as well as, sustain the country's high debt levels.

In a press release sighted by GhanaWeb Business, the Ministry of Finance, however, noted that August 4, 2023, is the expiration date for the invitation for these bondholders to exchange the previous ones for new bonds.

"Offers may only be submitted starting today [the Launch Date] and ending at 4:00 p.m. (Greenwich Mean Time (GMT)) on 4th August 2023 the expiration date. However, government may at its sole discretion, extend the expiration date including for one or more series of eligible bonds," part of the release read.

It would be recalled that the Minister of Finance, Ken Ofori-Atta in February this year noted that over 80% of local bondholders have signed on to government’s domestic debt exchange programme.

Government’s three-day window for bondholders to complete tender processes of the Domestic Debt Exchange Programme (DDEP) expired on Friday, February 10, 2023.


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