Coupon payments and maturing principals will be honoured – Government

The Government has assured persons who refused to participate in the just ended Domestic Debt Exchange Programme that they will be paid their outstanding coupons and maturing principals.

According to the government, this will be done with Government fiscal commitments.

“The Government would like to reassure all individual bondholders who elected not to participate that your coupon payments and maturing principals, like all Government bonds, will be honoured in line with Government fiscal commitments,” the government said in a statement issued by the Ministry of Finance on Tuesday, February 14.

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The Government in the said statement also thanked the people of Ghana for their support and contribution.

“The DDEP is being done to help protect the economy and enhance our capacity to service our public debts effectively.

“The alternative for not executing the DDEP would have brought grave disorder in the servicing of our national debt and exacerbated the current economic crisis.

“The government is, therefore, grateful for the overwhelming participation of all bondholders. Your support and contributions have gotten your country much closer to securing the IMF programme.”

Government also disclosed that it achieved more than the 80% target needed for the Domestic Debt Exchange Programme (DDEP).

The programme is part of the requirements before Ghana can secure an economic bailout of about $3 billion from the International Monetary Fund (IMF).

Source:Myjoyonline.com