The Government of Ghana and the Ghana Insurers Association (GIA) have reached an agreement on insurance companies’ participation in the Domestic Debt Exchange Programme (DDEP).
Per the agreement reached, the insurance companies would have similar terms just the Banks.
A joint statement issued by the Finance Ministry and GIA said insurance companies would be supported through the Ghana Financial Stability Fund (GFSF).
This is to help protect jobs and the insurance industry.
“That the Government through the solvency window of the Ghana Financial Stability Fund (GFSF), will provide support for the insurance companies that are seriously affected by the DDEP. The objective is to protect jobs and the stability of the industry,” a portion of the statement reads.
“The GIA is happy to reach a deal with the Government that protects its members, but also enabling the Government to push through the necessary economic reforms at this
difficult times.”
The statement added that “This milestone on the back of the success with the banking industry, has taken the Government closer to completing the DDEP which is a key factor to restore economic stability and growth.”
By: Rainbowradioonline.com/Ghana
