In order to better engage individual bondholders over their involvement in the debt exchange scheme, the Ministry of Finance has established a technical committee.
This comes after a private discussion on the programme on Wednesday with the Individual Bondholders Forum's leaders.
Senyo Hosi, the convener of the Individual Bondholders Forum and a participant in the meeting, told JoyNews in an interview that the Committee's recommendations, which will be made after its work, will determine whether or not their bonds would be excluded.
"We have decided to form a group to collaborate on ideas that will assist in managing the problems...
We are eager for that committee's work to begin tomorrow. "A technical group is expected to provide some work, and the Finance Ministry will adopt a position based on those analyses. We will formulate our suggestions collectively, and we hope to find some justification for trying to exclude the particular bondholders, he stated on Top Story on Wednesday.
Tomorrow, January 19, the Committee's first meeting will start right away. The government's debt swap initiative, according to Finance Minister Ken Ofori-Atta, is a voluntary endeavour. According to Mr. Ofori-Atta, the administration expects a success rate of 80%.
He said that the proportion would be adequate to maintain economic stability. He claims that despite the fact that the programme has not started, he has "stumbled across dramatic films as if the programme has already begun," adding that "it is a voluntary activity."
Additionally, according to Mr. Ofori-Atta, the government would offer some concessions to certain bondholders as part of the Programme.
He did, however, rule out any attempt to do away with the programme or give each bondholder a complete exemption.
In an exclusive interview with Joy Business' George Wiafe for PM Express Business Edition, to run on January 19, he remarked, "We are looking at a situation where maybe the zero coupon for bondholders in 2023 could be adjusted going ahead."
Mr. Ofori-Atta pointed out that the government is completely committed to adopting actions that would lighten the burden on certain bondholders who have voiced concerns about the Domestic Debt Exchange Programme's existing framework.
blogpay
Total Comments: 0