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Government reaches agreement with banks on new terms for debt exchange programme


The Government of Ghana and the Ghana Association of Banks (GAB) have made significant progress on the terms of participation of Banks in the Domestic Debt Exchange Programme (DDEP).

The new agreement encompasses final improvements to the terms of the programme.

These include; an agreement to pay 5% coupon for 2023 and a single coupon rate for each of the twelve (12) new bonds resulting in an effective coupon rate of 9%, clarity on the operational framework and terms of access to the Ghana Financial Stability Fund (GFSF) and the removal or amendment of all clauses in the Exchange Memorandum that empowers the Republic to, at its sole discretion, vary the terms of the Exchange.

More soon…

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[Source: MyJoyOnline.com]

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