The Government’s Domestic Debt Exchange Programme (DDEP) officially closed on Friday, 10th February 2023, recording over 80 per cent participation of eligible bonds.
This was contained in a press release issued by the Ministry of Finance on Tuesday 14th February 2023, thanking Ghanaians for their forbearance and support throughout the difficult times.
The statement reiterated that from the onset of the DDEP to its closure on Friday, participation in the programme was voluntary.
It stated, “Having in mind that the entire exercise was voluntary, throughout the exercise, the government always affirmed that crucial fact that individual Bondholders are free not to participate. Thus, the right of the individual to be self-exempt was never in doubt.”
According to the statement, given the circumstances, the government had always made a humble appeal to bondholders to participate in the DDEP, seeing it as a very critical act of burden-sharing in the ongoing national effort to tackle the economic crisis, bring back macroeconomic stability and guarantee sustainable growth and prosperity for the people of Ghana.
“The government, in addition, offered alternatives to encourage individual bondholders and retirees to tender for the new bonds which would have wider secondary market circulation. The government is grateful to those who took part in the advocacy in securing an improved offer for participants,” it stressed.
Patience Anaadem, ISD
