Ghana’s finance minister, Ofori Atta, has acknowledged the nation’s economic difficulties and is pleading for “understanding and aid” in order to bring about macroeconomic stability.
On December 4, Mr. Ofori-Atta made the commitment to reconstruct the economy “as quickly as is practicable” in a nationwide broadcast.
“These are difficult times, and we count on the support of all Ghanaians and the investor community to make the exercise successful,” he said.
He was referring to the Domestic Debt Exchange Program, which was made public in the 2023 budget statement presented to Parliament on November 24.
The launch is planned for Monday, December 5.
Domestic bondholders will be required to replace their current instruments for new ones as part of the Programme.
As of December 1, “existing domestic bonds will be exchanged for a set of four new bonds maturing in 2027, 2029, and 2037,” Mr. Ofori-Atta explained.
According to him, this is a component of efforts to prevent the economy from collapsing.
“We are confident that these measures will contribute to restoring macroeconomic stability.
“With your understanding and support and that of the entire investor community, we shall overcome our current difficulties and with the help of God, put our economy back on the path of renewed and robust growth.”
Source: Mybrytnewsroom.com/Joseph Asare
