The domestic debt exchange program's (DDEP) expiration date has been postponed by the government to January 31, 2023.

Since the program's debut on December 5, 2022, there have been three extensions.

The Ministry of Finance explained that the delay was necessary owing to ongoing stakeholder discussions with institutional and individual investors who have recently been asked to participate in the debt exchange program in a tweet seen by GhanaWeb Business.

According to a tweet from the office of the finance minister, "creating consensus is essential to a successful economic recovery for Ghana."

As part of efforts to secure an IMF bailout and address the country’s unsustainable debt situation, government launched the DDEP inviting bondholders to voluntarily exchange approximately GH¢137 billion domestic notes and bonds of the Republic including ESLA and Daakye for a package of new bonds.

In the wake of this, various groups of bondholders in the financial sector have called on their members to reject government’s Domestic Debt Exchange Programme due to a lack of broader consultations and negotiations.