3Business can report that the federal government has again extended the deadline to register for the home debt alternate programme to Friday, February 10, 2023.
According to the finance ministry, the debt alternate has formally ended, however an extension is required to full the web tender course of for bondholders dealing with technical challenges.
“As a result, the government is providing bondholders an administrative window to complete processes for tendering their bonds, in response to the terms of Exchange as amended pursuant to the 2nd Amended and Restated Exchange Memorandum. This administrative window ends on Friday, 10th February 2023 at 4:0pm (GMT),” a finance ministry assertion said.
The authorities is restructuring elements of the nation’s whole debt, estimated at 575 billion cedis, so as to entry $3 billion in funding from the International Monetary Fund. It suspended cost to
The finance ministry has struggled to implement the home debt restructuring as bondholders reject the programme due to an absence of readability over the phrases and profitability of the brand new bonds.
It is unclear if the federal government has reached its goal of 80% participation to safe an IMF board approval for the a lot-wished bailout to increase the financial system.
More quickly….
Sani Abdul-Rahman – 3Business
Source: 3news.com
