Ofori-Atta’s words:

Late on Sunday, the Finance Minister made a number of announcements on the government’s Domestic Debt Exchange (DDE) programme.

In a 4-minute speech, he claimed that the declaration was consistent with the government’s Debt Sustainability Analysis, which was included in the 2023 budget he had earlier on November 24 presented to Parliament.

Among other things, the Minister outlined the replacement of four domestic bonds with existing ones, along with details on their maturities and coupon payment schedules.

He also discussed steps to lessen the impact of local bond exchange on various stakeholders as well as the government’s overarching objective in relation to its interactions with the International Monetary Fund.

He then listed three key initiatives, saying, “The Government of Ghana has been working hard to minimise the impact of the domestic debt exchange on investors holding government bonds, particularly small investors, individuals, and other vulnerable groups.”