'The form of Ofori-Atta's Debt Restructuring is unacceptable' - Minority | 3News.com

The Minority Leader in Parliament Haruna Iddrisu has said that the debt exchange programme announced by the is a debt restructuring.

The objective of this programme, he said, is to alleviate the debt burden in a most

In this context, by means of an Exchange offer, the Government of Ghana has been working hard to minimize the impact of the domestic debt exchange on investors holding government bonds

Let me repeat this fact as plainly as I can, in this debt exchange individual holders of domestic bonds are not affected and will not lose the face value of their investments

“Our domestic debt operation involves an exchange for new Ghana bonds with a coupon that steps up to 10% as soon as 2025 (with a first interest payment in 2024) and longer average maturity

Existing domestic bonds as of 1st December 2022 will be exchanged for a set of four new bonds maturing in 2027, 2029, 2032 and 2037.

For emphasis, this domestic debt exchange programme will not affect individual bondholders.”