PricewaterhouseCooper’s, an accounting and advisory firm, has applauded the government’s proposal to create an investor protection fund, which would serve as a liquidity reserve bank for financial institutions and investors who might suffer losses as a result of a historic debt treatment exercise.
The fund, which the minister later unveiled on December 5, was said to be necessary to act as a shock absorber to potential spillovers from the Ghana debt exchange program.
The debt exchange program, though independent of the International Monetary Fund (IMF), is necessary to reduce the nation’s debt to levels that are manageable before securing a bailout program.
As a result, he said all holders of T-bills would be paid the full value of their investments on maturity.