Government yet to make conclusive decision on debt operations - Finance Ministry

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Fri, 25 Nov 2022 Source: www.ghanaweb.com

The Finance Ministry has stated that the government is yet to arrive at a conclusion for debt operations.

This comes after the Finance Minister during the presentation of the 2023 budget announced that due to the unsustainable levels of Ghana's debt, the country will adopt a debt exchange programme.

But in an adjoining statement by the Ministry on November 25, 2022, it said a decision is yet to be made.

"As stated in the Budget Speech by the Honourable Minister for Finance, Ken Ofori-Atta, the Government of Ghana is contemplating a debt operation aimed at alleviating the pressures on the national budget and restoring debt sustainability. This would also open up financing streams and provide a needed balance of payment support from the Fund," a part of the statement read.

It however added that "details of the different layers of a debt operation, including the terms of principal payments and interest on the public debt, are still being discussed, taking into account principles of debt sustainability and international best practices."

Meanwhile the Deputy Minister of Finance, Abena Osei-Asare noted that treasury bills will not be affected by any debt restructuring measure the government will adopt.

"The Government of Ghana reiterates its commitment to rolling out a lasting solution to the current economic challenges, with the ultimate goal of restoring macroeconomic stability and anchoring debt sustainability," the statement concluded.

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Source: www.ghanaweb.com
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