The Government of Ghana and the Ghana Association of Banks (GAB) have made significant progress on the terms for the participation of Banks in the Domestic Debt Exchange Programme (DDEP).
Domestic Debt Exchange Programme (“DDEP”) Extension
The Government has taken the decision to extend the Expiration Date of the Domestic Debt Exchange Programme from Monday, 16th January 2023 at 4:00 p.m. (GMT) to Tuesday, 31st January 2023 at 4:00 p.m. (GMT) (the “New Expiration Date”).
Ghana Euro Bondholders Form Representative Committee
Following the public statements by the Government of Ghana of its intention to seek a restructuring of its external debt, international holders of Ghana’s Eurobonds have organized to form a bondholder creditor committee (the “Committee”). The Committee is representative of a diverse group of institutional investors including mutual funds, asset managers, insurance firms, hedge funds, and family offices.
IMF on Staff Level Agreement (SLA) for an IMF-Supported Programme
I will like to first of all thank the almighty God for providing the needed guidance to the GoG and the Fund to get us where we are today.
Government of Ghana Domestic Debt Exchange: Potential Financial Sector Impacts and Mitigating Safeguards
On 5th December 2022, the Government of Ghana launched Ghana’s Domestic Debt Exchange programme, an invitation for the voluntary exchange of approximately GHS137 billion of the domestic notes and bonds of the Republic, including E.S.L.A. and Daakye bonds, for a package of New Bonds to be issued by the Republic.
The Government of Ghana Announces the Further Extension of the Expiration Date of its Domestic Debt Exchange to 16th January 2023
As part of the Government’s efforts to address the country’s ongoing economic crisis, on 5th December 2022, we launched a domestic debt exchange pursuant to which we invited (the “Invitation”) certain holders of approximately GHS137.3 billion of principal amount outstanding of certain of our domestic notes and bonds issued by the Government, E.S.L.A. Plc or Daakye Trust Plc (the “Eligible Bonds”) to exchange their Eligible Bonds for a package of new bonds to be issued by the Government (the “New Bonds”).
Extension of Expiration Date of Ghana’s Domestic Debt Exchange to 30 December 2022
As part of the Republic of Ghana’s (the "Republic") efforts to address the country’s ongoing economic crisis, on 5 December 2022, it launched a domestic debt exchange pursuant to which it invited (the “Invitation”) certain holders of approximately GHS137.3 billion of principal amount outstanding of certain of its domestic notes and bonds issued by the Republic, E.S.L.A. Plc or Daakye Trust Plc (the “Eligible Bonds”) to exchange their Eligible Bonds for a package of new bonds to be issued by...
Suspension of Payments on Selected External Debts of the Government of Ghana
Ghana is today faced with major economic and financial crisis, and its attendant social challenges. In 2020 and 2021, the covid-19 pandemic negatively impacted our fiscal and economic situation. Global risk aversion triggered large capital outflows, a loss of external market access and rising domestic borrowing costs.
Extension of The Expiration Date for The Domestic Debt Exchange Program (DDEP) to December 30, 2022
On 6th December 2022 our domestic debt operation (which we formally refer to as the Invitation to Exchange) was launched. Over the last ten days, we continued the consultation efforts that we initiated with all stakeholders ahead of the launching of the offer, including regulators, bankers, pension funds, asset managers, insurance companies etc.
Ghana’s Domestic Debt Exchange 2022 – Exchange Memorandum
On behalf of the Government of Ghana, I wish to set out the background of a debt exchange programme that will allow our country to restore sound public finance and sustainable debt levels, and to kickstart economic growth following the impact of the COVID-19 pandemic.