The Central Securities Depository Limited (CSD) is still waiting for the consent of institutional bondholders willing to participate in the domestic debt exchange program with only seven days left. It requires them to defer their interest payments in exchange for full payment of the principal at a later date.
According to the Minister of Finance, interested investors have until December 19 to confirm their willingness to participate. The exercise is an opportunity for Ghana to reduce its debts to sustainable levels in order to qualify for financial assistance from the International Monetary Fund (IMF).
Many investors, they said, were waiting for firm decisions from their parent organizations on how to proceed with the exercise, which had been announced. The domestic debt exchange exercise is seen as an avenue for the country to restore sound public finance and sustainable debt metrics while kick-starting economic growth, following the impact of the COVID-19 pandemic.
