The government does not want to miss the deadline for the Domestic Debt Exchange scheme, according to Finance Minister Ken Ofori-Atta.
The administration once more extended the Program's deadline on Monday, January 16.
Following calls from individual bondholders to join the Program, this was the third extension.
The choice was made to support the government's continued communication with these bondholders.
Initially, the administration chose the following day as the announcement date and prolonged subscription to the program from Friday, December 30, 2022, to Monday, January 16.
According to the plan, invitation payments were to be made on Tuesday, January 24.
The new deadline, as of Tuesday, January 31, was, however, once more declared by the administration on Monday, January 16.
On January 18, Mr. Ofori-Atta established a joint technical committee to look into the issues highlighted by specific bondholders prior to the implementation of the Domestic Debt Exchange Program.
Following a crucial meeting with bondholders on January 18 under the auspices of the Ghana Individual Bondholders Forum (IBF), the minister made this announcement.
The Programme was supposed to be implemented after Tuesday, January 31, and the Forum had petitioned the Minister to be left out of it.
They stated that despite government efforts to incorporate their bonds in the Program, they had not been sufficiently engaged by the government.
They claimed that the government had taken advantage of them, especially because the Program was announced just as it had been promised that such investments would not be subject to haircuts.
After the discussion with the individual bondholders, Mr. Ofori-Atta spoke with journalists and said that the Programme is still optional. By Sascovibesgh
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