The Ghana Securities Industry Association has expressed delight with the Ministry of Finance’s decision to extend the domestic debt exchange programme to Tuesday, January 31, 2023.
The Association lauded the Ministry and said the decision is in tandem with its letter dated January 13, 2023, requesting an extension.
“We welcome the Ministry of Finance’s decision to extend the deadline of the offer to January 31, 2023, following our request to the Minister of Finance for an extension and a binding commitment that it will equally apply any better terms that may be extended to any party under a domestic debt sustainability program in our letter dated January 13, 2023.”
It also praised the Ministry’s decision for the extension which it said will help “to further engage with stakeholders, especially individual bondholders to mitigate any adverse impacts”.
The Association also reiterated its “unwavering position that Individual Bondholders should include persons who hold bonds directly and those who hold bonds indirectly i.e. individuals having shares/units in Collective Investment Schemes that have invested in government bonds and persons on whose behalf bonds are held for in Trust Accounts, a position also espoused by the Ghana Individual Bondholders’ Forum.”
“This is critical to ensure equity and fair treatment of all Individual Bondholders and will further make the exchange program more progressive,” the Association further stressed.
It also assured utmost commitment “to working with the Ministry of Finance to arrive at a fair exchange program where we all contribute to overcoming our economic challenges.”