Minister of Finance, Ken Ofori-Atta has given the assurance that government will exclude Treasury Bill instruments from its Domestic Debt Exchange Programme (DDEP).
He explained that the current economic crisis, will not allow for the country to gain access to the international capital market, therefore, government must work within the domestic market to restore macroeconomic stability and achieve debt sustainability.
“I can very comfortably say that that Treasury Bills will not be touched in the on-going DDEP. We are not ready to go into the international capital market as the pricing will be horrendous with credit downgrades being placed on most economies."
“We are keeping borrowing externally low and therefore we must work within the domestic market and that has to have the confidence and trust that is required.”
The Finance Minister, Ken Ofori-Atta, said this during an interview on GTV’s Talking Point show on Sunday August 6, 2023.
Meanwhile, government has launched a second round of DDEP targeting pension funds, US dollar-denominated domestic bonds and cocoa bills.
The decision forms part of conditions required by the government of Ghana to secure a second tranche of $600 million loan facility from the International Monetary Fund for bailout.
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