Regarding the conditions of banks’ participation in the Domestic Debt Exchange Program, the government and the Ghana Association of Banks (GAB), have made tremendous progress.
In a joint statement, the Finance Ministry and GAB announced that they had reached an agreement to pay a five percent coupon for 2023 and a single coupon rate for each of the twelve new bonds, for an effective coupon rate of nine percent.
The Ghana Association of Banks also requested that the Republic remove or amend all provisions in the Exchange Memorandum that allow the Republic to change the terms of the Exchange at its sole discretion. These provisions relate to the operational framework and conditions of access to the Ghana Financial Stability Fund.
Below is the statement
