The Minister for Finance, Ken Ofori-Atta, has said there is no need for investors to rush for their money after the government’s decision to roll out a debt exchange programme.
Ofori-Atta said measures have been put in place to ensure liquidity support for financial institutions.
“We have systems that ensure that there is enough information out there for everyone, and the truth of the matter is that this may be one of the effective collaborations of the regulators in the issue of liquidity,” Ofori-Atta told journalists at the launch of the Domestic Debt Exchange Programme on Monday (5 December) in Accra.
“So, there is no need to rush for your money because certain forbearances will be given to these institutions to help,” the Finance Minister said.
Listen to Ken Ofori-Atta in the audio clip attached below:
Meanwhile, Finance Minister Ofori-Atta has said that the government expects overwhelming support for the Domestic Debt Exchange Programme.
Ofori-Atta said the success of “this necessary endeavour” depends on the co-operation of the Ghanaian public.
He said the Domestic Debt Exchange Programme is the surest way to get the economy back on track, to create jobs and to protect the incomes of Ghanaians.
“The government will take all appropriate measures to safeguard the solvency of the financial institutions involved in the debt exchange,” the minister added.
Ofori-Atta said that “the government has been working hard to limit the impact of the domestic debt exchange on investors holding government bonds”.
“Let us remove any doubt and remove any speculation that the government is about to cut your retirement savings or the notional value of your investment,” he said.
Fred Dzakpata
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