Fitch Ratings has expressed optimism about the recovery of Ghana’s banking sector, citing strong profits and improved capitalisation after the challenges brought on by the Domestic Debt Exchange Programme (DDEP). The ratings agency forecasts a brighter outlook for the sector as economic stabilisation efforts gain momentum. In its latest report, Fitch highlighted the critical role […]
Tag: DDEP
Government reopens invitation for ESLA, Daakye Trust bondholders in Domestic Debt Exchange Programme
The Ghanaian government has extended fresh invitations to bondholders of E.S.L.A. Plc and Daakye Trust Plc, encouraging them to engage in the domestic debt exchange programme by trading their existing holdings for a new package. A press release issued on September 13 by the Ministry of Finance called upon holders of domestic notes and bonds […]
GCB Bank secures shareholders approval for GH¢1bn to strengthen bank
The GCB Bank PLC has sought the approval of its shareholders for GH₵1 billion to meet the regulatory capital adequacy ratio requirements and strengthen access to funding markets in order to bolster confidence in the Bank. This target has been necessitated in the bid to address the impact of the Domestic Debt Exchange Program (DDEP). […]
DDEP presents a silver lining we must grab with both hands — Abena Amoah
The Domestic Debt Exchange Programme presents a silver lining that the country must grab with both hands and fly with it, the Managing Director of Ghana Stock Exchange, Abena Amoah has said. She said the DDEP would reset the interest rate regime of the country and also help free up capital for investment in the […]
DDEP: Leave our pensioners alone – Bagbin tells Finance Minister
The Speaker of Parliament has asked the Finance Minister, Ken Ofori-Atta, not to touch monies belonging to pensioners. Alban Bagbin said the current economic crisis can be solved without the funds of the pensioner. Wrapping up on the business of the House on Thursday, February 16, the former Nadowli Kaleo MP said Parliament will resist […]
DDEP: Gov’t secures 80% targetDDEP: Gov’t secures 80% target
The government has secured more than 80 per cent of targeted participation in the Domestic Debt Exchange Programme (DDEP), a source familiar with the process hastold the Daily Graphic. According to the source, the Central Securities Depository was conducting the final reconciliation of the numbers to ensure that there was no double counting. The deadline […]
Schedule Finance Minister to brief Parliament – Speaker directs
The Speaker of Parliament, Alban Sumana Kingsford Bagbin, has directed the Business Committee of Parliament to schedule the Finance Minister, Ken Ofori-Atta, to appear before the House to brief members on affairs of the domestic debt exchange programme (DDEP). He said both sides of the House had agreed that the Finance Minister be scheduled to […]
Bondholders offered administrative window to tender
The government has created an administrative window to enable bondholders to complete the tender process, following what the Finance Ministry described as “technical glitches”. The window will last until Friday, February 10, this year to enable all eligible bondholders who were unable to complete the process to do so. They are to visit the website […]
Agreement to exempt pensions from DDEP is final, no u-turn – Organised Labour
Organised Labour has reiterated that the agreement it had with the government in December last year to grant exemption to all pension funds in the Domestic Debt Exchange programme (DDEP) is final. In a statement dated February 1, 2023 reacting to the government’s revised DDEP on January 31 and extension of the deadline, Organised Labour reiterated […]
Government reaches agreement with banks on new terms for debt exchange programme
The Government of Ghana and the Ghana Association of Banks (GAB) have made significant progress on the terms of participation of Banks in the Domestic Debt Exchange Programme (DDEP). The new agreement encompasses final improvements to the terms of the programme. These include; an agreement to pay 5% coupon for 2023 and a single coupon […]
I won’t leave bank till I get my bond returns – Sick 77-year-old retiree vows
A 77-year-old sick retiree, Peter Kojo Nyasepe, has vowed to stay at his bank’s premises until he receives his interest on his bonds at the end of the month. Peter, who is a bondholder says he buys medications to survive from the returns on his bonds and therefore the returns cannot be withheld. Speaking in […]
It will be suicidal to touch T-bills under debt exchange programme – Ofori-Atta
Finance Minister, Ken Ofori-Atta has assured that government will not touch Treasury Bills (T-bills) under the Domestic Debt Exchange Programme. According to him, it will be suicidal for government’s own finances and fundraising programmes in the future to touch T-bills as part of the programme. Mr. Ofori-Atta noted that government has conducted a Debt Sustainability […]