Ghana says domestic debt swap closed with over 80% participation

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The Ghanaian finance ministry said its domestic debt exchange programme (DDEP) had closed on Tuesday with more than 80% participation of eligible bonds, taking it a step closer to securing a $3 billion International Monetary Fund bailout.

"The alternative of not executing the DDEP would have brought grave disorder in the servicing of our national debt and exacerbated the current economic crisis."

However, with the exchange offer having undergone a number of modifications throughout multiple extension, the final terms and the fiscal impact were as yet unclear, he added. Overseas bonds were trading slightly positive after the news, with most around or below the 40 cents in the dollar threshold. , .

 

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