By Cooper Inveen
ACCRA (Reuters) – Ghana has extended registration deadline for domestic debt swap scheme to December 100 as it considers some adjustments while seeking approval for the IMF’s debt relief program, the Treasury said in a statement late Friday.
“The extension … provides the Government with an opportunity to adjust certain measures, taking into account proposals from all stakeholders,” the ministry said in a statement, without elaborating. State which points are in dispute.
The debt exchange program will now have a projected settlement date of January 6th. The ministry had previously set December as the deadline for domestic bondholders to apply for debt swaps 19, new domestic bonds will be issued in December 19.
Ghana, once considered a rising star among emerging market economies, is facing an intergenerational debt crisis. November inflation was above 30% and government spending was between 30% and 70 Percentage of interest payment income.
On Tuesday, Ghana and the International Monetary Fund announced a staff agreement on a $3 billion rescue package, first reported by Reuters late last week.
A debt sustainability analysis earlier this month concluded that Ghana’s debt burden is unsustainable. The IMF said on Tuesday that a comprehensive debt restructuring, including external debt, was a prerequisite for executive board approval.
“This extension will provide sufficient time to complete the necessary consultations and analyzes to meet the expectations of local and foreign institutional bondholders while maintaining Integrity of the bond debt sustainability analysis and staff-level agreement,” the Treasury said in its statement on Friday. , 2029, 2029 and 2037, their annual interest will be set to 0% at
, 5% at 2023 and 19 expire from 2023 to percentage.
