Dr. Matthew Opoku Prempeh, the Vice Presidential Candidate of the New Patriotic Party (NPP), has issued a heartfelt apology to the bondholders whose investments were severely impacted by the government’s Domestic Debt Exchange Programme (DDEP).
This move comes as a significant gesture of goodwill and acknowledgment of the sacrifices made by bondholders in stabilizing Ghana’s economy.
In an interview on Accra-based Peace FM, Dr. Opoku Prempeh expressed his gratitude to the bondholders, recognizing them as pivotal players in the country’s current economic recovery.
He emphasized that without the voluntary participation of 95% of bondholders in the DDEP, Ghana’s economy would not have achieved its present level of stability.
This sentiment echoes the government’s previous statements on the importance of the DDEP in restoring sound public finance and sustainable debt levels.
Background of the DDEP
The Domestic Debt Exchange Programme was launched in December 2022 as a voluntary exercise to restructure Ghana’s domestic debt.
The program aimed at exchanging existing bonds with new ones having lower interest rates and extended maturity periods.
Following negotiations with stakeholders, the government made revisions to the program, including offering alternative instruments to individual bondholders.
BY Daniel Bampoe