Provide data on actual number of investors involved in debt exchange – Govt told

South Dayi Member of Parliament Rockson Nelson Dafeamekpor has said the government has not been able to provide data on the actual number of investors involved in the Domestic Debt Exchange Programme.

He questioned the source of the government’s claim that the programme has reached 80 per cent participation.

The Minister of Finance, Ken Ofori-Atta, had targeted over 80 percent participation amid agitations among individual bondholders and some Senior Citizens, who sought exemption from the Programme.

“The Government’s Domestic Debt Exchange Programme (DDEP) closed on Friday 10th February 2023 with over 80% participation of eligible bonds,” a statement issued by the Ministry of Finance on Tuesday, February 14 said.

“The Government wants to thank the people of Ghana for their forbearance and support throughout these very difficult times.”

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It said by the participation of the voluntary bondholders after the closure of the Programme on Friday, the country has inched closer towards securing the $3billion extended credit facility (ECF) from the International Monetary Fund (IMF).

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

“The alternative of 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 contribution has gotten your country much closer to securing the IMF programme.”

It asked individual bondholders, particularly pensioners, who did not participate in the Programme, to be rest assured that their coupon payments and maturing principals will be honoured in line with laid-down rules.

Reacting to its, Mr Dafeamekpor said in a tweet that the “Government has not been able to provide data on the actual number of investors involved in the Domestic Debt Exchange Programme.

“Yet this Government magically says that the number of willing participants is exactly 80%. Where did it obtain that percentage?”

Source:3news.com