Experts to discuss post-DDEP and how to regain trust
Experts to discuss post-DDEP and how to regain trust

Experts to discuss post-DDEP and how to regain trust

Three experts will speak at this year’s Graphic Business/Stanbic Bank Breakfast Meeting to be held at the Labadi Beach Hotel in Accra on Tuesday, March 21.

They are the Managing Director of the Ghana Stock Exchange (GSE),  Abena Amoah, who will also chair the meeting; the Director-General of the Securities and Exchange Commission, Rev. Daniel Ogbarmey Tetteh, and a Professor of Development Economics at the University of Ghana, Prof. Ebo Turkson.

The meeting will be held on the theme: “Rebuilding the economy post-Domestic Debt Exchange Programme (DDEP) – How to Regain Trust and Confidence.”

The breakfast meeting, which is held every quarter, is expected to attract personalities from academia, civil society organisations, international organisations, trade associations among others to discuss and make recommendations on how to regain trust and confidence post-DDEP.

The meeting is arguably the most patronised and influential thought-leadership event in the country and the theme has been divided into three main perspectives to offer panel members the opportunity to discuss in detail, the issues and proffer solutions for consideration.

Economic challenges 

The event comes off at a crucial time when the economy is facing one of its worst challenges in decades, with its debt hitting GH¢575 billion, representing over 90 per cent of Gross Domestic Product (GDP) and inflation also hit a 22-year high of 53.6 per cent at the end of January.

The government officially approached the IMF in July last year for a US$3 billion bailout. 

In December 2022, the government reached a staff-level agreement with the fund and it is now left with board-level approval before it can access the US$ 3 billion support.

The board-level approval is, however, hinged on the country’s ability to restructure both its domestic and external debt.

A domestic debt exchange programme, which was announced in December, was met with stiff opposition from stakeholders but after much deliberation, the government finally managed to reach an agreement with over 80 per cent of its domestic debtors.

Although the DDEP has been successful, there are still concerns over its impact on the solvency and liquidity of banks, insurance companies and other financial institutions in the country.

The meeting is, therefore, meant to discuss in detail the impact of the DDEP on the economy and proffer solutions.

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