March 30, 2023

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The Finance Minister Ken Ofori-Atta has revealed that it has successfully swapped GH₵‎82,994,510,128 worth of old bonds from a possible GH₵‎ 97,749,624,691 under the Domestic Debt Exchange (DDEP) programme.

This he said represents an 84.91 percent success rate exceeding its intended target of an 80 percent participation rate.

Briefing Parliament on Thursday, February 16, he said “government is committed to the wellbeing of our senior citizens and pensioners. The government will honour their coupon payments and maturing principles.”

He added “I have met with them on three occasions where I explained the terms of the new bonds. I subsequently wrote to their convener to let him know that all pensioners who did not participate in the bond offerings are exempt.”

Mr Ofori-Atta further urged MPs to support the government in getting the board approval from the International Monetary Fund (IMF) to ensure economic stability.

He said that an IMF deal with help Ghana recover quickly from the economic challenges.”

“We will recover from this crisis soon rather than later as indicated by President Akufo-Addo.

“I will urge Members of Parliament to support the government to secure the board approval for macro stability.”

The Finance Minister mentioned that he has met the pensioners who have been picketing to protest their inclusion in the DDEP three times.

He said he has explained to them the terms of the new bonds.

Meanwhile, the Speaker of Parliament Alban Bagbin has cautioned the Members of Parliament (MPs) against using unparliamentary language in their submissions on the presentation by Finance Minister Ken Ofori-Atta regarding the Domestic Debt Exchange Programme (DDEP).

According to the Speaker, the MPs should not speak as though they were in a chop bar or marketplace.

“Use Parliamentary language, not the language in a chop bar or marketplace but in Parliament,” Mr Bagbin cautioned.



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