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T-Bills holders will be paid full value of their investment on maturity – Ken Ofori-Atta

By Eric Nana Yaw Kwafo
Headlines Finance Minister Ken Ofori-Atta
DEC 5, 2022 LISTEN
Finance Minister Ken Ofori-Atta

The Minister of Finance, Ken Ofori-Atta has announced that there will be no haircuts on treasury bills and principal bonds.

Announcing Ghana's Domestic Debt Exchange on Sunday, December 4, the Finance Minister said T-Bills holders will be paid the full value of their investment when it matures.

“Treasury Bills are completely exempted and all holders will be paid the full value of their investments on maturity,” Ken Ofori-Atta said.

He added, “There will be NO haircut on the principal of bonds. Individual holders of bonds will not be affected.”

According to the Finance Minister, this is part of the efforts of government to minimise the impact of the domestic debt exchange on investors holding government bonds, particularly small investors, individuals, and other vulnerable groups.

Ken Ofori-Atta said the Government recognises the financial institutions hold a substantial proportion of these bonds and as such, the potential impact of this exchange on the financial sector has been assessed by their respective regulators.

He said through collaboration, these regulators have put in place appropriate measures and safeguards to minimize the potential impact on the financial sector and to ensure that financial stability is preserved.

Ken Ofori-Atta continued that in the midst of the current hard times, government is counting on the support of all Ghanaians and the investor community to make the exercise successful.

“We are confident that these measures will contribute to restoring macroeconomic stability. With your understanding and support and that of the entire investor community, we shall overcome our current difficulties, and with the help of God, put our economy back on the path of renewed and robust growth,” Ken Ofori-Atta stressed.

Eric Nana Yaw Kwafo
Eric Nana Yaw Kwafo

Journalist

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