The Ghana Government and the Ghana Insurers Association (GIA) have agreed on the participation of insurance companies in the Domestic Debt Exchange Programme (DDEP).

This was contained in a joint press statement issued by the Ministry of Finance and the Ghana Insurers Association (GIA) on Thursday, January 26, 2023.

“That the Government through the solvency window of the Ghana Financial Stability Fund (GFSF), will provide support for the insurance companies that are seriously affected by the DDEP. The objective is to protect jobs and the stability of the industry,” the statement said.

The statement further added that “The GIA is happy to reach a deal with the Government that protects its members, but also enabling the Government to push through the necessary economic reforms at this [these] difficult times.”

“This milestone on the back of the success with the banking industry, has taken the Government closer to completing the DDEP which is a key factor to restore economic stability and growth,” the statement noted.