The Government of Ghana has announced a further extension of the expiration date of the Domestic Debt Exchange to January 16, 2023.
The Ministry of Finance said in a statement issued on Saturday, December 24, 2022.
“The Settlement Date for the Invitation is now expected to occur on Tuesday, 24th January 2023, or as soon as practicable thereafter, but no later than the Longstop Date which is now scheduled for Tuesday, 31st January 2023, unless further extended by the Government pursuant to the Invitation. The Announcement Date is now expected to occur on or about 17th January 2023,” the statement said.
The Finance Ministry’s announcement also announced five itemised adjustments to the rules of the Domestic Exchange, which will be reflected in an Amended and Restated Exchange Memorandum to be published next week.
The government considered criticism from the banking sector regarding the necessity to acquire internal clearances when deciding to extend and alter the Invitation to Exchange.
“Further, this extension affords the Government of Ghana the opportunity to consider suggestions made by all stakeholders with the aim of adjusting certain measures acceptable within the constraints of the Government’s Debt Sustainability Analysis,” the statement added.