Minority rejects government’s debt restructuring program

The Government on Sunday announced a slash in interest payments for domestic bondholders to zero percent in 2023 and pegged 2024 interest payments at 5 percent According to the government, there will be no haircut on the principal of bonds, adding that individuals with government bonds will have total investments upon maturity.

“Let me state without any fear of contradiction that the form and structure of the debt restructuring announced by Finance Minister Ken Ofori-Atta this morning are unacceptable to us and we simply will not accept it.” The Tamale South lawmaker also questioned why the 2023 budget was silent on this policy presented by the Finance Minister in his recent address to the House.

The Minority caucus in Parliament has rejected the government’s debt exchange program intended to restructure the country’s debt into more sustainable levels..

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