The Minister of Finance, Ken Ofori-Atta has debunked reports that the government is planning a second round of Domestic Debt Exchange Programme (DDEP) with pension funds.
Ofori-Atta said those reports were “not correct”.
Addressing journalists at the IMF/World Bank Spring Meetings in Washington DC, Ofori-Atta said, “No, there’s nothing like that. I think maybe it was a misunderstanding but if you look at it in line with the 22 December 2022 memorandum of understanding (MoU) that we signed with Organised Labour, government pension funds were exempted and that has not changed. It’s, therefore, not correct to state that we are planning a second round of Domestic Debt Exchange Programme (DDEP) with pension funds.”
However, the minister said the government is in discussions with Organised Labour on how to maintain the country’s debt sustainability process.
Ofori-Atta said, “What we are doing is working with them on how they can further help the government to reduce the debt servicing and ensure that we maintain in a sort of debt sustainability limits which was in the MoU.”
“So those discussions are continuing… you know that we still have cocobills to work with, and the domestic dollar bonds that we are still working on but really debunk any sense that there is a second round of Domestic Debt Exchange Programme going to happen,” he added.
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