Deadline for signing up to Debt Exchange Programme expires today

Government’s deadline for bondholders to sign onto the domestic debt exchange programme expires today, Monday, January 16, 2023.

In its quest to address the country’s ongoing economic challenges, the government launched the programme to invite holders of bonds to voluntarily exchange approximately GH¢137 billion domestic notes and bonds of the Republic including ESLA and Daakye for a package of new bonds.

It is currently unclear how many institutions and individuals have signed onto the programme.

The domestic debt exchange program since its announcement has faced huge opposition from labour groups which managed to get pension funds exempted.

Also, individual bondholders who were included following the exemption of pension funds have taken a strong stance against their inclusion.

The situation has put government in a tight corner as it races against time to secure an IMF Board approval for a three billion dollar bailout.

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Source: citinewsroom.com