Domestic debt swap conclusion positive, says economist

Appearing on the Asaase Breakfast Show, Theo Acheampong said the development may lead to the final approval of an IMF programme for Ghana

Dr Theo Acheampong, a UK-based international petroleum economist has applauded the government for how it concluded agreement with local bondholders regarding the domestic debt exchange programme.

The government said a total of GHC82.99 billion in principal was tendered and accepted at the close of the Domestic Debt Exchange Programme (DDEP) last Friday.

The approximately, GHS83 billion, it said was a substantial majority of the bonds that eligible holders had tendered and would support the government to implement its measures to take Ghana out of the current economic crisis.

Acheampong said the development is positive.

He is optimistic the successful conclusion of the programme with domestic bondholders will pave way for a smooth negotiation with external bondholders.

Appearing on the Asaase Breakfast Show on Wednesday (15 February), Acheampong said the development may lead to the final approval of an IMF programme for Ghana.

“The conclusion of the domestic debt restructuring is very positive and gives us a strong upper hand to go into the external debt restructuring negotiation,” he said.

“Some will argue that if your locals accepted these hefty losses to the tune of an estimate of 40 to 50%, then they should also prepare to accept similar terms…, so I think it really gives us a very strong hand going into negotiation with external creditors.

“And also in the coming weeks, most likely we will get the approval of the International Monetary Fund (IMF) programme, that will come with initial funding to stabilise the cedi and the economy overall,” Acheampong added.

Listen to Dr Theo Acheampong in the attached audio clip:


Reporting by Fred Dzakpata in Accra


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:, Sound Garden and TuneIn
Follow us on Twitter: @asaaseradio995
Live streaming: Also on YouTube: Asaase Radio Official.
Join the conversation. Call: 020 000 9951 or 059 415 7777. Or WhatsApp: 020 000 0995.


Show More

Related Articles

Back to top button

Adblock Detected