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Debt exchange plan will boost confidence in Ghana’s economy – Addison

Debt exchange plan will boost confidence in Ghana’s economy – Addison

The Governor of the Bank of Ghana, Dr Ernest Addison, has expressed optimism that the proposed Debt Exchange Programme announced by the government will bring some confidence in the economy as well as enhance the efforts of the Central Bank in controlling inflation.

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“In addition to the near-term adoption of the IMF programme, we will provide a balance of payment support to help with financing gaps, boost investor confidence and restore stability.”

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The Government on Sunday announced a slash in interest payments for domestic bondholders to zero percent in 2023 and pegged 2024 interest payments at 5 percent.

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The government, however, said there will be no haircut on the principal of bonds, adding that individuals with government bonds will have their full investments upon maturity.

In a public address on Sunday, December 4, on the current economic situation, the Finance Minister, Ken Ofori-Atta said the government will ensure that people’s investments are safe

He further announced that interest payments for domestic bondholders for 2024, will be pegged at only 5% adding that from 2025, the rate increases to 10%

That will also mean the media being helpful in disseminating the right information to economic actors

Original Story on: Citi Newsroom
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