According to him, the debt exchange programme announced by government which has courted several controversies was in the best interest of all to put the economy on a sound footing.
In a press release sighted by GhanaWeb, Ken Ofori-Atta explained that failure to roll out the debt exchange programme would have brought grave disorder in the servicing of the country's high debt, as well as, solve the current economic crisis.
The finance minister stressed that the support has helped government to get much closer to securing the IMF programme.
“Government wants to thank the people of Ghana for their forbearance and support throughout these very difficult times...The DDEP is being done to help protect the economy and enhance our capacity to service our public debts effectively. The alternative of not executing the DDEP would have brought grave disorder in the servicing of our national debt and exacerbated the current economic crisis," part of the finance minister's press release read.
“The government is, therefore, grateful for the overwhelming participation of all bondholders. Your support and contributions have gotten your country much closer to securing the IMF programme,” he added.
Ken Ofori-Atta also noted that over 80% of local bondholders have signed on to government’s domestic debt exchange programme.
Government’s three-day window for bondholders to complete tender processes of the Domestic Debt Exchange Programme (DDEP) expired on Friday, February 10, 2023.
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Finance Minister, Ken Ofori-Atta