We will honour coupon payments, maturing principals - Government to bondholders

Government through the Ministry of Finance has assured bondholders who did not sign unto the Domestic Debt Exchange Programme that they will have their outstanding coupon and maturing principals paid to them accordingly.

A statement released by the Ministry explained that the payments will be done in accordance with government’s fiscal commitment.

“The Government would like to reassure all individual bondholders who elected not to participate that your coupon payments and maturing principals, like all Government bonds, will be honoured in line with Government fiscal commitments,” the government said in a statement issued by the Ministry of Finance on Tuesday, February 14.

“The DDEP is being done to help protect the economy and enhance our capacity to service our public debts effectively. The alternative for not executing the DDEP would have brought grave disorder in the servicing of our national debt and exacerbated the current economic crisis,” the statement added.

Government, however, expressed gratitude to the bondholders who have signed unto the DDEP.

Meanwhile, the government has disclosed that over 80 percent of local bondholders signed the Domestic Debt Exchange Programme (DDEP).

The programme forms part of the requirement ahead of Ghana securing a Board-Level Agreement from the International Monetary Fund (IMF).

MA/FNOQ

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