Ken Ofori-Atta, the Minister of Finance, is scheduled to appear before parliament today to respond to inquiries from lawmakers regarding the Domestic Debt Exchange Programme (DDEP). The announcement was made on Friday, February 10, by Alexander Kwamena Afenyo-Markin, the Deputy Majority Leader, as he presented the House’s Business Statement for the week.
Following demands from Minority MPs for Ofori-Atta to provide the House with information on the programme, Alban Bagbin, the Speaker of Parliament, ordered the minister to appear before the House. The MPs contended that the lack of complete information on the DDEP was unacceptable, and it was causing anxiety about the programme among parliament and the public
As Ghana faces rising inflation, a rapid depreciation of the cedi against the US dollar, and credit downgrades from international rating agencies, the government has announced an official subscription rate of 85% for the Domestic Debt Exchange Programme (DDEP). The conclusion of subscription towards the DDEP is a core condition for Ghana to secure approval of the IMF board for a US$3 billion facility, following a Staff-Level Agreement reached last December.
The DDEP has faced controversies, including demands from various groups for exemption from the programme. The ministry is still dealing with pensioner bondholders who are seeking formal exemption, despite the minister’s insistence that they have already been exempted and that their coupons will be honoured when due
As Ghana faces rising inflation, a rapid depreciation of the cedi against the US dollar, and credit downgrades from international rating agencies, the government has announced an official subscription rate of 85% for the Domestic Debt Exchange Programme (DDEP). The conclusion of subscription towards the DDEP is a core condition for Ghana to secure approval of the IMF board for a US$3 billion facility, following a Staff-Level Agreement reached last December.
The DDEP has faced controversies, including demands from various groups for exemption from the programme. The ministry is still dealing with pensioner bondholders who are seeking formal exemption, despite the minister’s insistence that they have already been exempted and that their coupons will be honoured when due
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