Vice President of Imani Africa, Bright Simons has said that the extension of the Domestic Debt Exchange programme to January 16, 2022, by the government indicates the complexities and challenges facing the Ghanaian economy.
The Government of Ghana on December 24, 2022, announced a further extension of the expiration date of its Domestic Debt Exchange to January 16, 2023.
However, Mr Simons, says the extension of the deadline of the programme shows serious challenges faced by the government in implementing the domestic debt exchange programme.
In a tweet, Mr Simmons said the “government is now beginning to grasp some of the complexities and challenges. After the holidays, we will probe further”.
The government also announced amendments to the terms of the domestic exchange programme.
Individual investors were initially not part of the domestic debt restructuring, but it appears the exemption of pension funds from the programme has triggered that.
A statement from the Finance Ministry indicated an expansion of investors in the debt exchange programme to now include individual investors.
“Expanding the type of investors that can participate in the Exchange to now include Individual Investors”, it pointed out.
“In addition to the foregoing extensions, the government announces the following modifications to the Invitation to Exchange, which are set forth in further detail on the Term Sheet attached as Annex A to this press release”.