In the midst of bondholders’ rage over their matured coupons, Finance Minister Ken Ofori-Atta has expressed the government’s thanks to bondholders and financial institutions for their sacrifices throughout the economic slump.
At his mid-year budget address in Parliament on July 31, he thanked these organisations for their support, which helped the government to “turn the corner.”
He also thanked the International Monetary Fund (IMF) and other development partners for their support of the administration through difficult times.
- Exchange rates, inflation, and other fiscal issues have all stabilised. — Ofori-Atta
- Government vowed to pursue a strong plan for an economic upswing, according to Ofori-Atta
“In fact, our heartfelt thanks also go to all investors, financial institutions, and bondholders for their sacrifice, support, and patience throughout this trying moment in our country’s economic history.” We value your contribution to “turning the corner” and your dedication to working with us to alter the economy. “We must also express our gratitude to the IMF, World Bank, and other Development Partners, as well as the G7 and G20 members who have been so supportive of us,” he said.
The 2020 economic crisis compelled the government to embark on a debt restructuring scheme.
The government later sought $3 billion IMF bailout of which the first tranche of $600 million was received by Ghana.
The government on July 14, announced a new Domestic Debt Exchange Programme (DDEP) for US dollar-denominated bonds targeting to exchange US$ 809 million of the denominated notes and bonds.
