Government extends deadline for debt exchange programme to January 31

The Government has extended the deadline for its domestic debt exchange programme to January 31.

This according to the state is to deepen stakeholder engagement on the proposed policy.

A tweet by the Ministry of Finance on Monday explained that, the extension is to rally consensus towards a successful implementation of the programme.

“Building consensus is key to a successful economic recovery for Ghana.

Pending further stakeholder engagement with institutional and individual investors, recently invited to join the debt exchange programme, government is extending the expiration of the DDE to Jan 31, 2023”, the tweet said.

Reacting to the extension, convener of the Individual Bondholders Forum, Senyo Hosi, says the extension of the deadline will enhance better engagement on the matter.

Speaking on Joy FM’s midday news on Monday, he described the extension as a ‘good move’.

He however noted the proposals by his outfit must be factored in future deliberations on the matter.

“It’s a good move. At least there’s room for engagement. But the issues are pretty clear. We have not just come to the table just saying ‘no’. We have actually proposed alternatives that are viable for government.

“Government must look within. Because we as individuals and the general citizenry have taken a big share of the pie. We have been at the receiving end of the raw deal of governance every single time.

“We’re open to meet and we look forward to that”, he said.

Meanwhile, the Minority in Parliament has called for the complete suspension of the entire programme.

Addressing a press conference on Monday, the Minority Leader, Haruna Iddrisu said the programme as currently structured will worsen the plight of Ghanaians, hence the need for the President to put it on hold and consult some more.

“We in the NDC, the Minority group call on President Nana Addo Dankwa Akufo-Addo to immediately suspend the ongoing debt exchange programme. It is already failing”, he stressed.

In his submissions, he stressed that the present programme if implemented, will have dire consequences on individual bondholders who are already struggling amidst the economic crisis.

Whie calling for the suspension, he also noted that if the programme is implemented, it will stifle the growth of the financial sector which can lead to its entire collapse.