The Ministry of Finance refuted allegations that the government is reorganising its debt with local contractors and private banks. No such restructure has been considered during or after the domestic debt restructuring program, which began in December 2022 and came to a definite finish in October 2023, according to a statement released by the Ministry on Monday, September 9, 2024.
According to the statement, during the August 29, 2024, Monthly Press Briefing on the Economy, a question on external commercial debt restructuring was posed. The response to that question was misconstrued as indicating that commitments to local contractors will be modified. It claimed that contractors had never been contacted or invited by the Ministry of Finance to participate in debt restructuring talks.
The Ministry clarified that debt restructuring refers to the reorganisation of Ghana’s stock of debt, comprising loans and bonds, adding that domestic contractors’ liabilities, on the other hand, are payment claims, not loans or bonds, and do not fall under the category of obligations eligible for restructuring.
Below is a full copy of the statement from the Ministry of Finance
SOURCE: https://dew360.net
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