Ghana and capital market operators agree on domestic debt exchange terms

Crisis-hit Ghana has to restructure its mountain of debt in order to access a relief package from the International Monetary Fund but a deadline for bondholders to sign up to the DDE programme has already been pushed back several times.

Under the new agreement, capital market operators will participate in the exchange programme on the same "improved terms" agreed with banks earlier this week. "GSIA believes this agreement is necessary to restore market normalcy and confidence in the economy," the statement said. Ghana needs around 80% of bondholders to sign up for the DDE program. Registration has already been been extended three times, with a current deadline of Jan. 31, in an attempt to convince hesitant bondholders who are concerned about lack of clarity surrounding the terms of the deal.

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