EconomyEditors-PickFinancial ServicesGhanaHeadlineNewsPolitics

DDEP: Thank you for your forbearance and support, government tells Ghanaians

The DDEP has been established to help protect the economy and enhance Ghana’s capacity to service her public debts effectively

The government has registered its appreciation to Ghanaians for their forbearance and their support for the Domestic Debt Exchange Programme (DDEP), which closed on Friday 10 February 2023 with over 80% of all eligible bonds signed up for participation.

In a press release dated Tuesday 14 February 2023 and entitled “Participation in the Domestic Debt Exchange Programme”, the Finance Ministry said the government is extremely impressed with and grateful for the high patronage that the voluntary programme has received.

“The government wants to thank the people of Ghana for their forbearance and support throughout these very difficult times,” said the press release signed by the Minister of Finance, Ken Ofori-Atta.

“The DDEP is being done to help protect the economy and enhance our capacity to service our public debts effectively. The alternative of not executing the DDEP would have brought grave disorder in the servicing of our national debt and exacerbated the current economic crisis.

“The government is, therefore, grateful for the overwhelming participation of all bondholders. Your support and contributions have gotten your country much closer to securing the IMF programme,” said the Finance Minister.

Burden-sharing

In his statement, the minister further noted that even though the DDEP is a voluntary exercise, under the prevailing economic circumstances nationally and globally, the government had to make “a strong but humble appeal to bondholders to participate in the DDEP”, seeing it as “a very critical act of burden-sharing in the ongoing national effort to tackle the economic crisis, bring back macroeconomic stability and guarantee sustainable growth and prosperity for the people of Ghana”.

“Government in addition, offered alternatives to encourage individual bondholders and retirees to tender for the new bonds which will have wider secondary market circulation,” the statement by Ofori-Atta said.

“The government is grateful to those who took part in the advocacy in securing an improved offer for participants.”

Wilberforce Asare

Asaase Radio 99.5 broadcasts on radio via 99.5 in Accra, 98.5 in Kumasi, 99.7 in Tamale, 100.3 in Cape Coast and on our affiliates Bawku FM 101.5 in Bawku, Beats FM 99.9 in Bimbilla, Somua FM 89.9 in Gushegu, Stone City 90.7 in Ho, Mining City 89.5 in Tarkwa and Wale FM 106.9 in Walewale
Tune in or log on to broadcasts 
online: www.asaaseradio.com, Sound Garden and TuneIn
Follow us on Twitter: @asaaseradio995
Live streaming: facebook.com/asaaseradio99.5. Also on YouTube: Asaase Radio Official.
Join the conversation. Call: 020 000 9951 or 059 415 7777. Or WhatsApp: 020 000 0995.

#AsaaseRadio
#TheVoiceofOurLand

Show More

Related Articles

Back to top button

Adblock Detected

ALLOW OUR ADS