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Ghana has extended the deadline for a debt exchange program for the third time to 31 January, Finance Minister Ken Ofori-Atta said on Monday.
This extension will enable governments to build consensus while engaging with relevant agencies and individual investors.
“Building consensus is key to a successful economic recovery in Ghana,” Ohori Atta wrote on Twitter, adding that registration for the debt exchange will be extended “subject to further stakeholder engagement.” .
Last December, the crisis-hit country launched a debt swap program through its Treasury Department, just days before signing a staff-level agreement with the International Monetary Fund (IMF) for a $3 billion relief package.
The IMF said the board would approve the transaction only if Ghana underwent a comprehensive debt restructuring.
The debt swap deadline, originally set for December 19th, was previously extended to December 30th and then to January 16th.
An amendment to the original proposal exempted pensioners after public outcry, but was later joined by the originally exempt individual bondholders.
Ghana last week offered holders of 2023 government bonds a 2% cash fee in exchange for registering on the exchange, but opposition to the program remains widespread.
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