No Second Round Of DDEP, It Was A Misunderstanding – Ofori-Atta Assures

Finance Minister, Ken Ofori-Atta, has explained that there will not be another round of domestic debt restructured.

An earlier report had indicated that whiles the minister was making an address at the ongoing IMF/World Bank Spring meetings, he hinted at a possible debt restructuring targeted at pension funds.

According to him, the statement he made was misconstrued to mean he said there would be a second round of DDEP.

“We are not planning a second round of the domestic debt exchange programme for pension funds. I think it was a misunderstanding,” he is quoted by myjoyonline.com

He maintained that the earlier agreements reached with organized labour to exempt pension funds from the DDEP still hold and have not changed.

“We reached an agreement with organised labour association that pension funds were exempted. That has not changed,” he added.

The finance minister and other members of the economic management team are currently in Washington D.C. for the annual IMF/World Bank spring meetings.

The team is expected to make the final push for Ghana’s pending request for a $3 billion request from the IMF.