President Akufo Addo stated, “Over the last three years, we have had our own captivity-in-Babylon moments,” in his Christmas Eve statement to the people of Ghana.
Despite all, he did comment, “I’m delighted we’re starting to move out of the problems. This gives me optimism that we will succeed again if we put in the necessary effort, commitment, and sustained wisdom in managing the affairs of our nation.
Ghana’s economy has been unstable this year, so the nation turned to an IMF program for assistance.
The administration established a debt swap scheme as another component of their strategy to revive the economy.
The deadline for the domestic debt exchange program was recently pushed back from the end of this year to the beginning of the following year.
The government today announces its decision to extend the expiration date of the invitation from Friday, December 30, 2022, at 4 pm (GMT), to Monday, January 16, 2023, at 4 pm, according to a press release from the ministry of finance dated Saturday, December 24, 2022.
The ministry stated: “The settlement date for the invitation is now anticipated to be Tuesday, January 24, 2023, or as soon as practicable thereafter, but in no event later than the Longstop Date, which is now set for Tuesday, January 31, 2023, unless the Government extends it further in accordance with the invitation.
The announcement is now anticipated to take place on or around January 17, 2023, according to the release.