Gov’t extends Debt Exchange Programme yet again; to Jan. 31

January 16, 2023 / Comments (0)

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The government has yet again extended the Domestic Debt Exchange (DDE) Programme.

This will be the second extension given after agitations among individual bondholders to sign on to the Programme.

The decision is to allow the government to further engage with these bondholders.

The government had initially extended subscription to the Programme from Friday, December 30, 2022 to Monday, January 16, picking the following day as Announcement Date.

Per that schedule, Tuesday, January 24 was slated for settlement of invitations.

However, on Monday, January 16, government announced yet again that the new deadline will be Tuesday, January 31.

Individual bondholders had expressed dissatisfaction with the Programme, accusing government of failure to engage them.

They had petitioned the Finance Minister, Ken Ofori-Atta, to exclude them from the Programme.

Under umbrella body Ghana Individual Bondholders Forum(IBF), the bondholders accused both the Finance Minister and President Nana Addo Dankwa Akufo-Addo  of short-changing them and failing to keep their promise.

“Sir, let it not be said ever that during your tenure, your policies impoverished citizens whose primary duty to country was service and love through hard work and taxes.

“Your DDE as proposed for Individual Bondholders takes away our liberty to self-sustain, mocks hard work, and robs us of legally acquired property. None of these reflect the tenets of good governance.”

They had offered to make their expertise available to help the government solve the economic quagmire the country finds itself in.

Meanwhile, the Minority in Parliament is calling on President Akufo-Addo to immediately suspend the Programme and start extensive engagement.

The caucus said the government should organised an economic dialogue as part of the engagement before any consideration of reintroduction.

Source: 3news.com

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