Govt did not engage Minority on Debt Exchange programme – Suhuyini

Tamale North Member of Parliament Alhassan Suhuyini has said that the Minority in Parliament was not engaged by the government on the debt exchange programme announced by the Finance Minister Ken Ofori-Atta.

Asked whether they were engaged by the government on the new programme, he said “never, we were not engaged.

Following the launch of the programme, the Minority Leader in Parliament Haruna Iddrisu said that the debt exchange was actually debt restructuring.

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, he said.

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

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