Dr. Matthew Opoku Prempeh, the Vice Presidential Candidate of the New Patriotic Party (NPP), has extended an apology to bondholders whose investments were negatively affected by the government’s Domestic Debt Exchange Programme (DDEP).
Speaking on an Accra-based radio station on Wednesday, Dr. Opoku Prempeh acknowledged the significant contributions of bondholders in stabilizing Ghana’s economy amidst the nation’s debt restructuring efforts.
He expressed the government's gratitude, emphasizing the critical role bondholders played in the economic recovery.
“We must recognize that without the 95% of bondholders who voluntarily participated in the DDEP, the current stability of our economy would not have been possible,” Dr. Opoku Prempeh remarked.
He further explained that the overwhelming support from local bondholders was instrumental in the country’s engagement with the International Monetary Fund (IMF), which ultimately helped to steer the economy back on track.
“If 95% of them hadn’t agreed to exchange their bonds, we couldn’t have gone through the restructuring process with the IMF. The cooperation of foreign bondholders also hinged on this,” he added.
Dr. Opoku Prempeh’s apology comes at a time when the government is working to rebuild trust with investors, following the difficult but necessary measures taken to restructure the nation’s debt.
Story by: Joshua Kwabena Smith
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