The latest domestic exchange program adjustments, as opposed to the earlier ones released by the government, according to economist Prof. Lord Mensah, are more investor friendly.
Individual bondholders who were earlier excluded from the domestic debt restructuring have now been included, according to the Ministry of Finance.
The exclusion of pension funds from the debt program, whose expiration date was moved from December 30 to January 16, 2023, appears to be what sparked the revision.
According to Prof. Lord Mensah, the new model offers investors more flexibility.
“Government says they are talking, so that is fine. All those that have their investments maturing can have a cash offer in 2023. That makes the current one a bit softer than the earlier one. This makes it friendlier to the investor community.”
“For instance, the extensions and the maturity starting from 2027 all the way to 2038 seem to be a bit softer and more flexible compared to the earlier one which seemed harsher.”