• Latest
  • Trending
IMF and Ghana

Government further extends its Domestic Debt Exchange expiration date to Jan. 16, and amends terms

December 25, 2022
Enzo Fernandez

Fabrizio Romano offers positive update in Chelsea’s last-minute pursuit of Enzo Fernandez

January 31, 2023
Insurance

Insurance broker faces $30,000 penalty over further “fraudulent activity”

January 31, 2023
Insurance

Consilium’s FAC reinsurance: What does it mean for Aussie brokers?

January 31, 2023
Pope Francis visits DRC and South Sudan

Why is Pope Francis visiting DRC and South Sudan?

January 31, 2023
Russia-Ukraine War

Russia-Ukraine War: Moscow’s troops pushing for Vuhledar – UK

January 31, 2023
Computerized School Selection And Placement System Fraud

Police Arrest 8 People Over Computerized School Selection And Placement System Fraud

January 31, 2023
Afia Schwarzenegger

BREAKING: Court detains Afia Schwarzenegger, orders her to pay GH¢60,000

January 31, 2023
incest

Siblings banished from community for committing incest

January 31, 2023
Africa Prosperity Network

Full Text: President Akufo-Addo’s Speech At The Dialogue Organised By The Africa Prosperity Network

January 31, 2023
Chairman Wontumi

Wontumi missing at Alan Kyerematen’s meeting with NPP regional executives

January 31, 2023
Ban on Used Electrical Gadgets

Energy Commission Sets Record Straight On Used Electrical Gadgets Ban

January 31, 2023
NPP Flagbearer Race

Alan Seeks Otumfuo’s Blessings For NPP Flagbearer Race (VIDEO)

January 31, 2023
  • HOME
  • POLITICS
  • GENERAL NEWS
  • INTERNATIONAL NEWS
  • SCHOLARSHIP
  • OPINION
  • JOBS
  • Sports
  • Entertainment
InsiderGH.com
  • HOME
  • POLITICS
  • GENERAL NEWS
  • INTERNATIONAL NEWS
  • SCHOLARSHIP
  • OPINION
  • JOBS
  • Sports
  • Entertainment
No Result
View All Result
  • HOME
  • POLITICS
  • GENERAL NEWS
  • INTERNATIONAL NEWS
  • SCHOLARSHIP
  • OPINION
  • JOBS
  • Sports
  • Entertainment
No Result
View All Result
InsiderGH.com
No Result
View All Result
Home POLITICS

Government further extends its Domestic Debt Exchange expiration date to Jan. 16, and amends terms

December 25, 2022
in POLITICS
Reading Time: 3 mins read
0
IMF and Ghana

Ken Ofori-Atta, Minister of Finance

Kindly share

Government has announced a further extension of its Domestic Debt Exchange expiration date to January 16, 2023.

According to a press release from the Finance Ministry on Saturday, December 24, it has amended the terms of the Debt Exchange.

“The Government today announces its decision to extend the Expiration Date of the Invitation from Friday, December 30, 2022, at 4 pm (GMT) to Monday, January 16, 2023, at 4 pm.

“The Settlement Date for the Invitation is now expected to occur on Tuesday, January 24, 2023, or as soon as practicable thereafter, but no later than the Longstop Date which is now scheduled for Tuesday, January 31, 2023, unless further extended by government pursuant to the Invitation.

“The Announcement Date is now expected to occur on or about January 17, 2023,” the Ministry said.

 In addition to the foregoing extensions, government has announced modifications to the Invitation to Exchange. They are;

  1. Offering accrued and unpaid interest on Eligible Bonds, and a cash tender fee payment to holders of Eligible Bonds maturing in 2023;
  2. Increasing the New Bonds offered by adding eight new instruments to the composition of the New Bonds, for a total of 12 New Bonds, one maturing each year starting January 2027 and ending January 2038;
  3. Modifying the Exchange Consideration Ratios for each New Bond. The Exchange Consideration Ratio applicable to Eligible Bonds maturing in 2023 will be different than for other Eligible Bonds;
  4. Setting a non-binding target minimum level of overall participation of 80% of aggregate principal amount outstanding of Eligible Bonds; and
  5. Expanding the type of investors that can participate in the Exchange to now include Individual Investors.

“These modifications will be set forth fully in an Amended and Restated Exchange Memorandum which is expected to be published during the week of 26th December 2022. Conforming changes (including adding and modifying defined terms) in respect of the above amendments and modifications to cure ambiguity, omission, defect, error or inconsistency may be included in the Amended and Restated Exchange Memorandum,” the Finance Ministry said.

As part of its efforts to address the country’s ongoing economic crisis, on December 5, 2022, government launched a Domestic Debt Exchange.

Pursuant to this, it invited certain holders of approximately ¢137.3 billion of the principal amount outstanding of certain of our domestic notes and bonds issued by the Government, E.S.L.A. Plc or Daakye Trust Plc to exchange their Eligible Bonds for a package of new bonds to be issued by the government.

“The terms and conditions of the Invitation are described in an exchange memorandum available at https://projects.morrowsodali.com/ghanadde.

Capitalised terms used but not defined herein have the meaning ascribed to such terms in the Exchange Memorandum.

Government subsequently announced an extension of the Expiration Date to Friday, December 30, 2022, and the Settlement Date to Friday, January 6, 2023.     

As set forth in the Exchange Memorandum, the Government said it “reserves the right in its sole discretion to extend the timetable for the Invitation at any time and to make amendments to the Invitation at any time.

“Any Eligible Holders whose Eligible Bonds are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominees must contact such entity if it wishes to participate in the Invitation, as such entities may establish an earlier deadline to receive instructions to tender Eligible Bonds,” the Finance Ministry said.

It further stated that “In making this decision to extend and the modifications described herein, the Government considered feedback from the financial sector in relation to the need to secure internal approvals.

“Further, this extension affords the Government of Ghana the opportunity to consider suggestions made by all stakeholders with the aim of adjusting certain measures acceptable within the constraints of the Government’s Debt Sustainability Analysis.”

Source: JOY NEWS

Tags: Debt Exchange Programme
Previous Post

Merry Christmas 2022: 300+ Wishes, Messages and Greetings

Next Post

Charles Bissue wants court to stop Special Prosecutor from investigating him

Related Posts

Computerized School Selection And Placement System Fraud
POLITICS

Police Arrest 8 People Over Computerized School Selection And Placement System Fraud

January 31, 2023
Africa Prosperity Network
POLITICS

Full Text: President Akufo-Addo’s Speech At The Dialogue Organised By The Africa Prosperity Network

January 31, 2023
Chairman Wontumi
POLITICS

Wontumi missing at Alan Kyerematen’s meeting with NPP regional executives

January 31, 2023
Ban on Used Electrical Gadgets
POLITICS

Energy Commission Sets Record Straight On Used Electrical Gadgets Ban

January 31, 2023
NPP Flagbearer Race
POLITICS

Alan Seeks Otumfuo’s Blessings For NPP Flagbearer Race (VIDEO)

January 31, 2023
Asiedu Nketia amd Haruna Iddrisu
POLITICS

‘Powerful’ Haruna Iddrisu may go unopposed in primaries – Asiedu Nketiah

January 31, 2023
Next Post
Charles Bissue case

Charles Bissue wants court to stop Special Prosecutor from investigating him

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
National Cathedral

Okudzeto Ablakwa Drops Bombshell; Publishes The Mother Of All National Cathedral Scandals

January 16, 2023
Central Region NDC Youth organizer

BREAKING: NDC Changes Its Leadership In Parliament

January 24, 2023
Kusi Boateng

Ablakwa strips Rev. Kusi Boateng ‘naked’ with shocking GRA evidence

January 20, 2023
ghost businessman’s bribe to keep Haruna Iddrisu in office

NDC’s new minority leader rejected ghost businessman’s bribe to keep Haruna Iddrisu in office

January 27, 2023
Okudzeto Ablakwa

‘Odinary producer’ … ‘Who the Hell are you’ — Hot Exchanges as Ablakwa walked Out of Live Asempa Ekosii Sen

January 20, 2023
Asiedu Nketia

Asiedu Nketia explains change in NDC’s parliamentary leadership

January 24, 2023
car search

What to do when police stop you for car search – Expert advises drivers

January 20, 2023
Auditor General's report

Information Ministry paid itself ¢151k as Covid-19 allowance for working during lockdown – Auditor-General

January 23, 2023
Ablakwa

How Adom-Otchere triggered Ablakwa to release latest set of allegations against Rev. Kusi Boateng

9
NDC Parliamentary leadership

Backbenchers anger, 2024 elections: The confirmed and reported reasons behind NDC’s parliamentary ‘coup’

7
Central Region NDC Youth organizer

BREAKING: NDC Changes Its Leadership In Parliament

7
Asiedu Nketia

Asiedu Nketia explains change in NDC’s parliamentary leadership

6
Chairman Wontumi

Wontumi missing at Alan Kyerematen’s meeting with NPP regional executives

5
Nigel Gaisie 2023 prophecy

Kwame Dramani will sit at Jubilee House – Nigel Gaisie’s 2023 Prophecy

5
MPs who won't return to Parliament in 2025

Four top MPs who will not be returning to Parliament in 2025

4
How to avoid food poisoning from waakye

How to avoid food poisoning from waakye – Dr Okoe-Boye shares tips

4
Enzo Fernandez

Fabrizio Romano offers positive update in Chelsea’s last-minute pursuit of Enzo Fernandez

January 31, 2023
Insurance

Insurance broker faces $30,000 penalty over further “fraudulent activity”

January 31, 2023
Insurance

Consilium’s FAC reinsurance: What does it mean for Aussie brokers?

January 31, 2023
Pope Francis visits DRC and South Sudan

Why is Pope Francis visiting DRC and South Sudan?

January 31, 2023
Russia-Ukraine War

Russia-Ukraine War: Moscow’s troops pushing for Vuhledar – UK

January 31, 2023
Computerized School Selection And Placement System Fraud

Police Arrest 8 People Over Computerized School Selection And Placement System Fraud

January 31, 2023
Afia Schwarzenegger

BREAKING: Court detains Afia Schwarzenegger, orders her to pay GH¢60,000

January 31, 2023
incest

Siblings banished from community for committing incest

January 31, 2023

Recent News

Enzo Fernandez

Fabrizio Romano offers positive update in Chelsea’s last-minute pursuit of Enzo Fernandez

January 31, 2023
Insurance

Insurance broker faces $30,000 penalty over further “fraudulent activity”

January 31, 2023
Insurance

Consilium’s FAC reinsurance: What does it mean for Aussie brokers?

January 31, 2023
Pope Francis visits DRC and South Sudan

Why is Pope Francis visiting DRC and South Sudan?

January 31, 2023
InsiderGH.com

InsiderGH.com is the fastest growing socio-political news portal in Ghana. Get all breaking news updates, latest news headlines, local and international stories, showbiz, lifestyle etc.

Follow Us

Browse by Category

  • Apps
  • Business
  • Entertainment
  • Fashion
  • Food
  • Gadget
  • Gaming
  • GENERAL NEWS
  • Health
  • INTERNATIONAL NEWS
  • Lifestyle
  • Mobile
  • Movie
  • Music
  • News
  • OPINION
  • POLITICS
  • Review
  • SCHOLARSHIP
  • Science
  • Sports
  • Startup
  • Tech
  • Travel
  • World

Pages

  • ABOUT US
  • CONTACT US
  • DISCLAIMER
  • HOME
  • PRIVACY POLICY
  • TERMS OF USE

Copyright © 2020 - 2023, InsiderGH.com. All rights reserved.

No Result
View All Result
  • HOME
  • POLITICS
  • GENERAL NEWS
  • INTERNATIONAL NEWS
  • SCHOLARSHIP
  • OPINION
  • JOBS
  • Sports
  • Entertainment

Copyright © 2020 - 2023, InsiderGH.com. All rights reserved.

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings.

Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.