Prime News Ghana

Gov't extends deadline for domestic debt exchange programme again

By Vincent Ashitey
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The Government has once again extended the deadline for the domestic debt exchange programme.

A statement from the Ministry of Finance dated December 24 said the new deadline is January 16, 2023. The previous one was fixed for December 30, 2022

“The Government today announces its decision to extend the Expiration Date of the Invitation from Friday, 30th December 2022 at 4:00 p.m. (GMT) to Monday, 16th January 2023 at 4:00 p.m. (the “New Expiration Date”). The Settlement Date for the Invitation is now expected to occur on Tuesday, 24th January 2023, or as soon as practicable thereafter, but no later than the Longstop Date which is now scheduled for Tuesday, 31st January 2023, unless further extended by the Government pursuant to the Invitation. The Announcement Date is now expected to occur on or about 17th January 2023.” 

The Finance Ministry also announced five itemised amendments to the terms of the Domestic Exchange which is set to be captured in an Amended and Restated Exchange Memorandum to be published next week.

In making the decision to extend and modify the Invitation to Exchange, the government considered feedback from the financial sector in relation to the need to secure internal approvals.

“Further, this extension affords the Government of Ghana the opportunity to consider suggestions made by all stakeholders with the aim of adjusting certain measures acceptable within the constraints of the Government’s Debt Sustainability Analysis,” the statement noted.