{"id":58091,"date":"2023-04-15T15:36:44","date_gmt":"2023-04-15T15:36:44","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/04\/15\/finance-minister-requests-participation-of-pension-funds-as-he-proposes-new-debt-restructuring\/"},"modified":"2023-04-15T15:36:44","modified_gmt":"2023-04-15T15:36:44","slug":"finance-minister-requests-participation-of-pension-funds-as-he-proposes-new-debt-restructuring","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/04\/15\/finance-minister-requests-participation-of-pension-funds-as-he-proposes-new-debt-restructuring\/","title":{"rendered":"Finance Minister requests participation of pension funds as he proposes new debt restructuring"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"350\" height=\"250\"  alt=\"\" title=\"Ken-Ofori-Atta.jpg\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/04\/1681573004_179_Ken-Ofori-Atta.jpg\" data- class=\"entry-thumb lazyload\"\/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"350\" height=\"250\" class=\"entry-thumb\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/04\/1681573004_179_Ken-Ofori-Atta.jpg\"   alt=\"\" title=\"Ken-Ofori-Atta.jpg\"\/><\/noscript><\/div>\n<p><strong>The Minister of Finance Ken Ofori-Atta has proposed a new debt restructuring.<\/strong><\/p>\n<p>He is invitting Board of Trustees of pensions funds to permit pension funds to be added in the new proposal.<\/p>\n<p>He explained that the proposal has been \u201ccrafted to facilitate the execution of the MoU, addressing the Government financial needs while maintaining the value of the pension funds.\u201d<\/p>\n<p>\u201cThe proposed offer entails exchanging your current holdings of Treasury Bonds, ESLA bonds and Daakye Bonds for a menu of the currently outstanding New Bonds (issued in February 2023 and maturing in 2027 and 2028 respectively. New Bond 2027 and New Bond 2028 featuring an average coupon of 8.4 % with a ratio of 1.15x, thus entailing an increase in patrimonial value.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"819\" height=\"1024\" alt=\"\"  src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/04\/5e8a1714-7a76-472e-92ba-94f0374155c84399086379803472691-819x1024.jpeg\" data- class=\"wp-image-290148 lazyload\"\/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"819\" height=\"1024\" class=\"wp-image-290148\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/04\/5e8a1714-7a76-472e-92ba-94f0374155c84399086379803472691-819x1024.jpeg\" alt=\"\"  \/><\/noscript><\/figure>\n<p>\u201cThis complemented by an additional cash payment of 10% (strip coupon). The stream of coupons to be received as part of this proposal will therefore be 21% compared to the current 18.5% of the outstanding of old bonds.\u201d<\/p>\n<p>He further indicated that \u201cin 2023 and 2024, both instruments will pay 5% coupon in cash and the remainder will be capitalized into the nominal amount of the two bonds in order to comply with the cash constraints and the macro-framework defined under the programme with International Monetary Fund (IMF).\u201d<\/p>\n<p><strong>By Laud Nartey\/3news.com\/Ghana<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Minister of Finance Ken Ofori-Atta has proposed a new debt restructuring. He is invitting Board of Trustees of pensions funds to permit pension funds to be added in the new proposal. He explained that the proposal has been \u201ccrafted to facilitate the execution of the MoU, addressing the Government financial needs while maintaining the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":58092,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-58091","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Finance Minister requests participation of pension funds as he proposes new debt restructuring - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2023\/04\/15\/finance-minister-requests-participation-of-pension-funds-as-he-proposes-new-debt-restructuring\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finance Minister requests participation of pension funds as he proposes new debt restructuring - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Minister of Finance Ken Ofori-Atta has proposed a new debt restructuring. 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