{"id":1261630,"date":"2022-12-05T11:03:41","date_gmt":"2022-12-05T11:03:41","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/12\/05\/be-circumspect-were-in-this-together-ofori-atta-to-media\/"},"modified":"2022-12-05T11:03:41","modified_gmt":"2022-12-05T11:03:41","slug":"be-circumspect-were-in-this-together-ofori-atta-to-media","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/12\/05\/be-circumspect-were-in-this-together-ofori-atta-to-media\/","title":{"rendered":"Be circumspect; we\u2019re in this together \u2013 Ofori-Atta to media"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Minister for Finance, Ken Ofori-Atta, has admonished the media to be circumspect and disseminate the right information regarding the current economic crisis and the government\u2019s debt exchange programme in order not to create unnecessary panic among investors.<\/p>\n<p>Mr Ofori-Atta speaking at the launch of Ghana\u2019s Domestic Debt Exchange on Monday, December 5, 2022, said the government will rely on the media for education hence the need for the media to provide the public with the right information.<\/p>\n<p>\u201cThe media must disseminate the right information to economic actors. We are all in this together, and we must get out together,\u201d Mr Ofori-Atta said.<\/p>\n<p>Mr Ofori-Atta added that with the help of the media and the support of Ghanaians, he is confident the country will overcome these current challenges and emerge with a much more resilient and robust economy.<\/p>\n<p>\u201cWe have overcome various challenges in the past. We are a resilient society\u2026together we can beat this,\u201d<\/p>\n<p>Mr Ofori-Atta also reiterated that there will be no \u201chaircut\u201d on the principal of bonds and that individuals with government bonds will have their full investments on maturity.<\/p>\n<p>In an address on Sunday, the Finance Minister said \u201cTreasury Bills are completely exempted, and all holders will be paid the full value of their investments on maturity. There will be no haircut on the principal of bonds. Individual holders of bonds will not be affected,\u201d he said in an address on Sunday evening.<\/p>\n<p>He noted that the government has concluded the broad contours of the debt sustainability analysis and details on Ghana\u2019s domestic debt exchange will be launched on Monday, December 5, 2022.<\/p>\n<p>He however said the external debt restructuring parameters will be presented in due course.<\/p>\n<p>He said the government\u00a0recognizes that Ghana\u2019s financial institutions hold a substantial proportion of these bonds, \u201cas such, the potential impact of this exchange on the financial sector has been assessed by their respective regulators. Working together, 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.\u201d<\/p>\n<p>\u201cSpecifically, the Bank of Ghana, the Securities &#038; Exchange Commission, the National Insurance Commission, and the National Pensions Regulatory Authority will ensure that the impact of the debt operation on your financial institution is minimized, using all regulatory tools available to them.\u201d<\/p>\n<p><div class=\"youtube-embed\" data-video_id=\"5Zf146weVjU\"><iframe loading=\"lazy\" title=\"Domestic debt exchange: Treasury bills, principal bonds exempted from haircuts \u2013 Government\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/5Zf146weVjU?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Minister for Finance, Ken Ofori-Atta, has admonished the media to be circumspect and disseminate the right information regarding the current economic crisis and the government\u2019s debt exchange programme in order not to create unnecessary panic among investors. Mr Ofori-Atta speaking at the launch of Ghana\u2019s Domestic Debt Exchange on Monday, December 5, 2022, said [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1257624,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[29584,1943,2089],"class_list":["post-1261630","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-circumspect","tag-media","tag-oforiatta"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1261630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1261630"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1261630\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1261630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1261630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1261630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}