{"id":937,"date":"2023-01-20T22:09:00","date_gmt":"2023-01-20T22:09:00","guid":{"rendered":"https:\/\/ghnewsbay.com\/?p=937"},"modified":"2023-01-20T22:09:00","modified_gmt":"2023-01-20T22:09:00","slug":"im-confident-well-get-approval-for-imf-deal-by-march-says-ofori-atta","status":"publish","type":"post","link":"https:\/\/ghnewsbay.com\/?p=937","title":{"rendered":"I\u2019m confident we\u2019ll get approval for IMF deal by March, says Ofori-Atta"},"content":{"rendered":"
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<\/span>Twitte<\/a><\/span>Lin<\/a>Share via Email<\/a><\/span><\/span><\/div>\n<\/div>\n
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\"Ken
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Finance Minister Ken Ofori-Atta is optimistic the country will get the approval of the board of the International Monetary Fund (IMF) for bailout by March this year.<\/p>\n

Ofori-Atta said a debt profiling deal from the Paris Club under the G20 Common Framework<\/a> and a successful Domestic Debt Exchange Programme are prerequisite to getting approval from the board of the International Monetary Fund (IMF).<\/p>\n

\u201cI\u2019m confident that we\u2019ll get approval for the IMF deal\u2026we have a deadline of end of February for the Paris Club.\u201d<\/p>\n

\u201cSo we need to be able to do that and in between that we would have completed our Domestic Exchange Programme and, therefore, to be able to go to the [IMF] board in March for this to be executed,\u201d Ofori-Atta told George Wiafe on the PM Express Business Edition on Joy News.<\/p>\n

Meanwhile, Ofori-Atta<\/a> has allayed fears that treasury bills will be affected by the government\u2019s debt exchange programme.<\/p>\n

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He said treasury bills will forever remain untouchable as far as the debt exchange programme is concerned.<\/p>\n

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Ofori-Atta said the government has conducted a Debt Sustainability Analysis which does not include T-bills.<\/p>\n

\u201cWe can\u2019t afford to touch it. Let me assure you, treasury bills will forever remain sacrosanct. Treasury bills are exempted completely.\u201d<\/p>\n

\u201cWe have done the sustainability analysis. We are not including treasury bills. That is how government funds its operations,\u201d he told George Wiafe on PM Express Business Edition on Joy News.<\/p>\n

So far, the government has been meeting with various stakeholders to build consensus on the debt exchange programme<\/p>\n

\u201cBuilding consensus is key to a successful economic recovery for Ghana. Pending further stakeholder engagement with institutional and individual investors, recently invited to join the debt exchange programme, the government is extending the expiration of the DDE to 31 January 2023,\u201d a tweet from the Office of the Finance Minister said.<\/p>\n

Individual Bondholders<\/span><\/p>\n

This week, Ofori-Atta met with the Individual Bondholders Forum to address their concerns about the programme.<\/p>\n

The government through the Finance Ministry has set up a technical committee to address concerns raised by the Individual Bondholders Forum on the Domestic Debt Exchange Programme<\/a>.<\/p>\n

The Individual Bondholders Forum (IBF) has been intensifying calls for the government to exclude individual bondholders who have collective investment schemes from the entire debt restructuring exercise.<\/p>\n

Ghana announced a domestic debt exchange programme in December 2022 and said that external restructuring was being negotiated with creditors.<\/p>\n

The programme has been extended three times.already.<\/p>\n

The Finance Ministry had previously extended the registration deadline for the Domestic Debt Exchange Programme to 30 December 2022 from the original 19 December 2022 and extended it further to 16 January 2023.<\/p>\n

The new deadline is 31 January 2023.<\/p>\n

Source: www.asaaseradio.com<\/a><\/b><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

TwitteLinShare via Email Finance Minister Ken Ofori-Atta is optimistic the country will get the approval of the board of the International Monetary Fund (IMF) for bailout by March this year. Ofori-Atta said a debt profiling deal from the Paris Club under the G20 Common Framework and a successful Domestic Debt Exchange Programme are prerequisite to getting approval […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[70],"tags":[],"class_list":["post-937","post","type-post","status-publish","format-standard","category-news"],"yoast_head":"\nI\u2019m confident we\u2019ll get approval for IMF deal by March, says Ofori-Atta - Gh-newsbay<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ghnewsbay.com\/?p=937\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"I\u2019m confident we\u2019ll get approval for IMF deal by March, says Ofori-Atta - Gh-newsbay\" \/>\n<meta property=\"og:description\" content=\"TwitteLinShare via Email Finance Minister Ken Ofori-Atta is optimistic the country will get the approval of the board of the International Monetary Fund (IMF) for bailout by March this year. 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