DDEP: Bondholders will receive coupons for not participating, maturing principal payments – Finance Ministry
Individual bondholders are re-assured by the Ministry of Finance that their coupon payments and maturing principals, in line with other government bonds will be given to them for not participating in the Domestic Debt Exchange Programme (DDEP).
The Domestic Debt Exchange Programme (DDEP) closed on Friday, February 10, 2023 with over 80 per cent participation of eligible bonds, the Ministry of Finance has announced.
The Central Securities Depository was conducting the final reconciliation of the numbers to ensure that there was no double counting, Graphic Online understands.
A press statement issued Tuesday morning (Feb 14, 2023) said, “the Government wants to thank the people of Ghana for their forbearance and support throughout these very difficult times.
“All Individual bondholders, especially “our pensioner bondholders should rest assured that their coupon payments and maturing principals, like all government bonds, will be honoured in line with Government’s Fiscal commitments”, it said.
“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.
“The Ministry of Finance has also taken note of all additional input made by various stakeholders during the DDEP engagement to further streamline Government’s expenditures. We wish to assure Ghanaians of our full commitment to addressing these issues,” the statement concluded.
