The government is set to announce some development to the Invitation to Exchange for Individual Bondholders today, Monday, January 30, 2023.
This comes after the Individual Bondholders’ Forum (IBF) meeting with the Finance Minister on Friday, January 27, 2023.
In a press statement issued by IBF Convener, Senyo Hosi disclosed that: “The Finance Ministry understands the unique place of individuals as enumerated by the IB leadership.
“The Finance Minister will provide a revised Domestic Debt Exchange (DDE) offer on Monday for individuals to consider to participate if they desire. It’s purely optional,” part of the statements read.
It also stated that although the government will not be held accountable for events that take place on the secondary market, it will honor its obligations to people who choose to keep their original bonds.
“For this matter, the Finance Minister cannot assure market liquidity for the old bonds,” the IBF’s statement explained, adding, “He believes the benchmark bonds will be more tradable as more will be in circulation.
The IBF technical committee will review the Finance Minister’s position and will inform members as necessary, according to the statement.
Meanwhile, the Minister of Finance (FM) welcomed the IBF recommendations from its report submitted to the MoF which advises that Debt sustainability should be attained through Fiscal adjustments, revision of the Domestic Debt Exchange (DDE) proposal to structured groups, and a committed fight against corruption among others.
Read the full statement below:
