Ghana’s debt swap programme extended to Feb 7

Ken Ofori-Atta
Ken Ofori-Atta

Ghana has further extended the deadline to register for its Domestic Debt Exchange Programme to 7 February 2023.

In a press statement, the Finance Ministry said a new settlement date of Tuesday, 14 February 2023, will be confirmed via the new Exchange Memorandum.

The ministry said it “has made significant progress with all stakeholders, including financial sector industry associations and representative groups of individual bondholders, with respect to their participation in the programme.”

“Based on the agreement reached with the Ghana Association of Banks (GAB), Ghana Insurers Association (GIA), and the Ghana Securities Industry Association (GSIA), the new terms of the exchange have been accepted. A revised and final Exchange Memorandum will be released by Thursday, February 2, 2023,” the statement added.

Ghana announced a Domestic Debt Exchange Programme in December 2022 and said that external restructuring was being negotiated with creditors.

The ministry had previously extended the registration deadline for the Domestic Debt Exchange Programme to 30 December 2022 from the original 19 December 2022 and extended it further to 16 January 2023.

The new deadline (7 February) comes after the original deadline for the programme expired at 4 pm Tuesday (31 January).


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