Mr. Ofori-Atta claimed that the DEP was a requirement for the government to receive any kind of financial assistance from the Fund.
He added that in order to put the debt level on a sustainable path, the government has no choice but to implement the debt restructuring program.
Speaking to reporters in Accra, the minister assured them that the beginning of the domestic debt operations wouldn’t result in any losses for specific bondholders.
In order to lessen the program’s impact on the participants in the banking sector, Mr. Ofori-Atta also gave them assurances from the government.
An IMF mission team is presently in the country to continue discussions with the authorities on the country’s post-COVID programme for economic growth and associated policies and reforms that could be supported by a new IMF lending arrangement.