{"id":241508,"date":"2024-10-29T16:14:20","date_gmt":"2024-10-29T16:14:20","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/10\/29\/second-round-of-ddep-had-relatively-low-impact-on-banks-financials\/"},"modified":"2024-10-29T16:14:20","modified_gmt":"2024-10-29T16:14:20","slug":"second-round-of-ddep-had-relatively-low-impact-on-banks-financials","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/10\/29\/second-round-of-ddep-had-relatively-low-impact-on-banks-financials\/","title":{"rendered":"Second round of DDEP had relatively low impact on banks&#8217; financials"},"content":{"rendered":"<p><\/p>\n<div>\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/839\/83905659.295.jpg\" alt=\"Dr. Ernest Addison, BoG Governor\" title=\"Dr. Ernest Addison, BoG Governor\" width=\"295\" height=\"182\" \/> <span class=\"image_caption\"><span>Dr. Ernest Addison, BoG Governor<\/span><\/span><\/p>\n<\/div>\n<div style=\"-webkit-user-select: none; -webkit-touch-callout: none; -moz-user-select: none; -ms-user-select: none; user-select: none;\">\n<p id=\"article-123\">Phase 2 of Ghana&#8217;s Domestic Debt Exchange Programme (DDEP) had a relatively low impact on banks\u2019 2023 audited financial performance, according to the Bank of Ghana\u2019s 2024 Financial Stability Review.<\/p>\n<p>The limited effect is attributed to lower levels of debt holdings among banks and more favourable restructuring terms, with several impairments having already been booked in 2022. Banks also showed a strong recovery in financial performance for 2023.<\/p>\n<p>The report highlighted that in August 2023, the Ghanaian government restructured bond holdings of pension funds totalling GH\u00a230.01 billion in a separate arrangement.<\/p>\n<p>However, the review cautioned that ongoing external debt restructuring, especially concerning Eurobonds, could lead to additional impairments for banks and other participating financial institutions.<\/p>\n<p>\u201cThe regulatory reliefs implemented by financial sector regulators, alongside recapitalisation plans and the establishment of the Ghana Financial Stability Fund, will help cushion the financial sector from the impacts of the government debt operation,\u201d the report noted.<\/p>\n<p>Furthermore, the Financial Sector Strengthening Strategy (FSSS), introduced in 2023, coordinates regulatory interventions to promptly address risks in the financial system.<\/p>\n<p>While the domestic debt restructuring has created fiscal space and lowered the debt-to-GDP ratio, further adjustments loom.<\/p>\n<p>On July 14, 2023, Ghana launched the second phase of its DDEP, which included the restructuring of GH\u00a28.1 billion in Cocoa Bills and $808.99 million in locally issued U.S. dollar-denominated bonds.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dr. Ernest Addison, BoG Governor Phase 2 of Ghana&#8217;s Domestic Debt Exchange Programme (DDEP) had a relatively low impact on banks\u2019 2023 audited financial performance, according to the Bank of Ghana\u2019s 2024 Financial Stability Review. The limited effect is attributed to lower levels of debt holdings among banks and more favourable restructuring terms, with several [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":230526,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-241508","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Second round of DDEP had relatively low impact on banks&#039; financials - 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\/2024\/10\/29\/second-round-of-ddep-had-relatively-low-impact-on-banks-financials\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Second round of DDEP had relatively low impact on banks&#039; financials - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Dr. Ernest Addison, BoG Governor Phase 2 of Ghana&#8217;s Domestic Debt Exchange Programme (DDEP) had a relatively low impact on banks\u2019 2023 audited financial performance, according to the Bank of Ghana\u2019s 2024 Financial Stability Review. The limited effect is attributed to lower levels of debt holdings among banks and more favourable restructuring terms, with several [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2024\/10\/29\/second-round-of-ddep-had-relatively-low-impact-on-banks-financials\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-29T16:14:20+00:00\" \/>\n<meta name=\"author\" content=\"Ghana News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/10\\\/29\\\/second-round-of-ddep-had-relatively-low-impact-on-banks-financials\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/10\\\/29\\\/second-round-of-ddep-had-relatively-low-impact-on-banks-financials\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"headline\":\"Second round of DDEP had relatively low impact on banks&#8217; 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