The government has reached an agreement with the Ghana Securities Industry Association (GSIA) on the terms for participation by capital market operators in the Domestic Debt Exchange Programme (DDEP).
In a joint statement issued by the Ministry of Finance with GSIA it said “GSIA believes this agreement is necessary to restore market normalcy and confidence in the economy. GSIA urges its members to seek all required internal approvals and clients’ consent to participate in the DDEP per new terms in the updated Exchange Memorandum.
“Government views this program as very important towards restoring macroeconomic stability as we reset the economy on a path of strong growth and economic transformation,” it added.
According to the agreement, Collective Investment Schemes (CIS) and individuals who hold bonds in Trust accounts with Securities and Exchange Commission (SEC) approved firms would be offered enhanced commercial terms or exemptions.