Government extends pension funds, dollar domestic debt exchange expiration deadlines
The government has opened an administrative window for the GH¢31 billion pension funds and $809 million domestic notes and bonds to August 25, 2023.
The move is to allow bondholders who have not tendered additional time to secure internal approvals to participate in the debt exchange programme, the Ministry of Finance said in a statement copied to the Ghana News Agency on Tuesday.
The announcement date for both programmes is now on or about Monday, August 28, 2023, with September 1, 2023, as the Settlement Date, while the Longstop Date was Monday, September 4, 2023.
The issue date, interest accrual schedules, payment schedules, and amortisation schedules for the New Bonds will be adjusted to reflect the actual settlement date, the Ministry stated.
The Government on July 14 and July 31, 2023, domestic debt exchange pursuant to which it invited Eligible Holders to exchange approximately $809 million of its dollar-denominated domestic notes and bonds and a swap of GH¢31 billion in pension funds for new ones.
That was part of efforts to address its liquidity challenges in the country under the $3 billion International Monetary Fund (IMF) loan-support programme.
Source: GNA