DDEP: Economist Hails Revised Terms But…

Theo Acheampong, a UK-based international petroleum economist has commended the government for reviewing the terms for individual bondholders under the debt exchange programme.

Under the revised terms, all individual bondholders who are below the age of 59 years will be offered
instruments with a maximum maturity of five years, instead of 15 years, and a 10% coupon rate.

It also states that all retirees (including those retiring in 2023) will be offered instruments with a maximum maturity of five years, instead of 15 years, and a 15% coupon rate.

“The terms that are being offered on the table, definitely are improved and it shows that the government is listening, no two ways about that,” Acheampong said on the Asaase Breakfast Show on Wednesday (1 February).

However, he said “it still leaves a certain segment of the population worse off than they currently are and they can be excluded without the undue burden that the exchange comes with.”