• All holders of Treasury Bills will get the entire amount of their investments at maturity and are completely exempt from taxation.
• There won’t be any principal reduction on bonds.
• Bondholders personally won’t be impacted.
That’s NOT TRUE, boss. The Fin Min said treasury bills are protected (full redemption) but other local debt instruments (e.g. fixed dep., bank debt holdings) are to to be exchanged for 4 instruments with different maturity dates & coupon payments. So there are implicit haircuts! https://t.co/q1LW9QJ3dK
— Theo Acheampong, PhD (@mytheoz) December 4, 2022
Watch the Minister’s address below:
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