Ofori-Atta confirms that T-Bills will be excluded from the Debt Exchange Programme by the government.

The Finance Minister, Ken Ofori-Atta, has assured that Treasury Bill instruments will be excluded from the Domestic Debt Exchange Programme (DDEP). Due to the current economic crisis, accessing the international capital market is challenging. Hence, the government aims to restore macroeconomic stability and achieve debt sustainability by focusing on the domestic market.

During an interview on GTV’s Talking Point show on August 6, 2023, he emphasized that the ongoing DDEP will not involve Treasury Bills, and the government intends to keep external borrowing low. This approach is to build confidence and trust within the domestic market.

In the meantime, the government has launched a second round of DDEP, targeting pension funds, US dollar-denominated domestic bonds, and cocoa bills. This move is part of the conditions set by the government of Ghana to secure a second tranche of a $600 million loan facility from the International Monetary Fund as a bailout measure.

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