{"id":59160,"date":"2023-04-19T00:15:18","date_gmt":"2023-04-19T00:15:18","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/04\/19\/npp-govt-is-pushing-a-chunk-of-ghanas-debt-to-a-future-administration-hosi\/"},"modified":"2023-04-19T00:15:18","modified_gmt":"2023-04-19T00:15:18","slug":"npp-govt-is-pushing-a-chunk-of-ghanas-debt-to-a-future-administration-hosi","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/04\/19\/npp-govt-is-pushing-a-chunk-of-ghanas-debt-to-a-future-administration-hosi\/","title":{"rendered":"NPP govt is pushing a chunk of Ghana&#8217;s debt to a future administration &#8211; Hosi"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"375\"  alt=\"\" title=\"senyo-hosi-600x375-1.jpg\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/04\/senyo-hosi-600x375-1.jpg\" data- class=\"entry-thumb lazyload\"\/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"375\" class=\"entry-thumb\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/04\/senyo-hosi-600x375-1.jpg\"   alt=\"\" title=\"senyo-hosi-600x375-1.jpg\"\/><\/noscript><\/div>\n<p><strong>Businessman Senyo Hosi says the Akufo-Addo  administration is pushing a chunk of Ghana\u2019s financial liabilities to a future government through the new Domestic  Debt Exchange  Programme  (DDEP) that has been presented t<\/strong>o <strong>labour<\/strong>.<\/p>\n<p>Speaking on the Business Focus with Paa Kwasi Asare on TV3  Monday  April 17, he said \u201cYou actually have a government now who is deffering a lot of liabilities on pensions to a later time, to a future  government.\u201d<\/p>\n<p>The government is considering what it calls \u2018Proposed Alternative Offer for Pension Funds\u2019 but many consider this a new debt exchange programme.<\/p>\n<p>Already, Organised Labour is agitated and has served notice that the agreement reached in December for government not to include workers\u2019 pensions in such a programme still stands.<\/p>\n<p>The Ministry of Finance is said to have written to the Board of Trustees of Pension Funds to request participation in the new programme.<\/p>\n<p>The sector Minister Ken Ofori-Atta 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\"><img loading=\"lazy\" decoding=\"async\" width=\"819\" height=\"1024\" alt=\"\"  src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/04\/1681863318_139_5e8a1714-7a76-472e-92ba-94f0374155c84399086379803472691-819x1024.jpeg\" data- class=\"wp-image-290148 lazyload\"\/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"819\" height=\"1024\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/04\/1681863318_139_5e8a1714-7a76-472e-92ba-94f0374155c84399086379803472691-819x1024.jpeg\" alt=\"\" class=\"wp-image-290148\"  \/><\/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\u00a0International Monetary Fund\u00a0(IMF).\u201d<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Businessman Senyo Hosi says the Akufo-Addo administration is pushing a chunk of Ghana\u2019s financial liabilities to a future government through the new Domestic Debt Exchange Programme (DDEP) that has been presented to labour. Speaking on the Business Focus with Paa Kwasi Asare on TV3 Monday April 17, he said \u201cYou actually have a government now [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":59161,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-59160","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>NPP govt is pushing a chunk of Ghana&#039;s debt to a future administration - Hosi - 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\/19\/npp-govt-is-pushing-a-chunk-of-ghanas-debt-to-a-future-administration-hosi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NPP govt is pushing a chunk of Ghana&#039;s debt to a future administration - Hosi - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Businessman Senyo Hosi says the Akufo-Addo administration is pushing a chunk of Ghana\u2019s financial liabilities to a future government through the new Domestic Debt Exchange Programme (DDEP) that has been presented to labour. 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