The Ghana Securities Industry Association (GSIA) is the latest group to kick against government’s newly announced debt exchange programme.
GSIA in a statement said, although it understands the difficulties the country is facing, it cannot accept the programme because it believes a bond is a contractual agreement between a borrower and a lender (bondholders) and therefore any changes to the terms must be agreed by both parties.
“We, at the GSIA understand the difficult crossroads at which our nation currently finds itself and the difficult choices that need to be made to set us on the path to debt sustainability. However, we are unable to accept the bond exchange program announced by the Minister of Finance in its present form,” GSIA added in the statement issued on Wednesday, December 7, 2022.
“It is our intention to engage the MoF [Ministry of Finance] on our concerns and reservations. We, therefore, urge the investing public to continue to have confidence in us as we pursue this process. In this vein, we entreat clients of our member firms to allow us to engage and then communicate the outcomes to enable them take the best decision on their investments.”
Eight groups have already publicly voiced out their rejection of the debt exchange programme.
Click here to read the statement from the Ghana Securities Industry Association.
The post We can’t accept debt exchange programme – Securities Industry Association appeared first on Citinewsroom - Comprehensive News in Ghana.
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