Mr. Ken Ofori-Atta, Finance Minister, has stated confidently that Ghanaians will experience stability in exchange rates, inflation, and interest rates following the completion of the Domestic Debt Exchange programme.
In a briefing to members of Parliament on the debt exchange programme, he stated that the international and domestic bond markets are closed for government programme financing, forcing them to rely on Treasury Bills and concessional loans as the primary sources of funding for the fiscal year 2023.
Mr. Ofori-Atta went on to say that the post-debt operations were a component of a broader government response strategy to address the current challenges, while they continue to secure an IMF programme to boost economic confidence.
He went on to say that participation in the Domestic debt exchange programme was entirely voluntary, as stated in the Exchange Memorandum and subsequent amendments.
Following the results of the audit of the public debt, the government excluded Treasury Bills and Pension Funds from the exchange.
He revealed that Ghc82,994,510,128 of the total Ghc97,749,624,691 eligible bonds for tendering were successfully tendered. This amounted to approximately 85% of the outstanding eligible amount, exceeding the target of 80% stated in the Memorandum of exchange.
By: Rainbowradioonline.com/Ghana
