The Minister for Finance has written to the Pension Funds requesting for their participation in Debt Exchange Programme (DEP).
In a letter, the Minister requested that pension funds to exchanged their current holdings to Treasury Bonds, ESLA Bonds and Daakye Bonds.
“In line with the memorandum of understanding (MoU) signed between yourselves and the government this proposal is aimed at alleviating the cash constraint on the government in the coming years, while fully compensating the Pension Funds for the value of their respective current holdings.
“This proposal has been carefully crafted to facilitate the execution of the MoU while addressing the government’s financial needs.
“The proposed debt exchange entails exchanging your current holdings to Treasury Bonds, ESLA Bonds and Daakye Bonds for new tranches of the currently outstanding Existing Exchange Series (issued in February 2023 and maturing in 2027 and 2028 resp. “Exchange Bond 2027” and “Exchange Bond 2028” and together the “Exchange Bonds.”)” he explained.
He expressed the government’s gratitude for the continued collaboration between the Pension Funds and the government.
Attached is the full letter
Source: Starrfm.com.gh
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