The ruling New Patriotic Party (NPP) has asked Finance Minister Ken Ofori-Atta to exempt smaller bondholders from the debt exchange program.
According to the party, bondholders such as pensioners and others should be exempt from the program.
In a meeting with the Finance Minister and other party leaders, NPP General Secretary Justin Koduah stated that the party’s headquarters had been inundated with requests for the government to consider the debt exchange program.
As a result, the party wants the government to find alternative solutions to the problem.
For the third time, the government has extended the deadline for bondholders to voluntarily exchange their bonds for new ones
It is currently unknown how many institutions or individuals have signed up for the program, which has been rejected by a number of groups.
In order to address the country’s ongoing economic challenges, the government launched a program inviting bondholders to voluntarily exchange approximately GH137 billion in domestic notes and bonds of the Republic, including ESLA and Daakye, for a package of new bonds.
Since its announcement, the domestic debt exchange program has faced fierce opposition from labour groups, which were successful in exempting pension funds. Other groups, such as the Individual Bondholders Association, have also spoken out against the program
