The government is set to announce some modifications to the Invitation to Exchange for Individual Bondholders today, Monday, January 30, 2023. This comes after the Finance Minister’s meeting with Individual Bondholders’ Forum(IBF) on Friday, January 27, 2023.
“The Finance Ministry understands the unique place of individuals as enumerated by the IB leadership. “The Finance Minister will provide a revised DDE offer on Monday for individuals to consider to participate if they desire. It’s purely optional,” a Press Statement issued by IBF Convener, Senyo Hosi disclosed.
It further noted that the government will honour its obligations to individuals who opt to retain their original bonds albeit there will be no responsibility on the part of the government for happenings on the secondary market.
“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. But the statement said the IBF technical committee will review the Finance Minister’s position above and advise members accordingly.
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 DDE proposal to structured groups, and a committed fight against corruption among others.
Below is a copy of IBF’s Statement
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By: Starrfm.com.gh
