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As Ghana considers some debt restructuring, the Information Minister, Kojo Oppong Nkrumah, has clarified that the president\u2019s assurances of no haircuts<\/strong> with respect to money invested in bonds cover just the principals for the time being.<\/p>\n \u201cMy understanding is that no principals will be touched. No principals will have a haircut,\u201d Mr. Nkrumah said on the Citi Breakfast Show<\/strong>.<\/p>\n The minister however added that \u201cthe debt sustainability strategy is yet to be announced in full.\u201d<\/p>\n \u201cWhen they are done with the rest of the strategy, and they come out and do a full announcement, we will have clarity on the form that the debt restructuring will take,\u201d he said.<\/p>\n The concerns over debt restructuring have accompanied the government\u2019s negotiations with the International Monetary Fund for a $3 billion bailout.<\/p>\n As to the fate of interest expected on the principals, Mr. Nkrumah said, \u201cI think we should give them time to come out and announce the full details of the debt sustainability strategy.\u201d<\/p>\n The minister further said the president\u2019s assurances, which came via an address on Ghana\u2019s economic crisis, were in response to rumours about haircuts on principals.<\/p>\n Ghana\u2019s talks with the IMF mission are expected to resume in the coming weeks as the government works to manage its almost GHS 400 million debt.<\/p>\n Moving forward, to address the debt situation, the president said the government plans to reduce the total public debt to GDP ratio to about 55 in present value terms by 2028, with the servicing of external debt pegged at not more than 18 percent of annual revenue also by 2028.<\/p>\n It is expected that the government will have to restructure the debt to make it more sustainable in order to qualify for the $3 billion support from the IMF.<\/p>\n The Finance Ministry recently said it is committed to reaching an agreement with the IMF as soon as possible.<\/p>\n The government is optimistic that it will have a deal in place before the 2023 budget is real next month.<\/p>\n