First major discussion on lessons and implications post-DDEP
SEASONED experts on the economy, capital markets, finance and investment will converge at the plush Labadi Beach Hotel today for the first major discussion on how to regain public trust on lending to the government.
It follows the government’s inability to service its debts, which gave rise to the domestic debt exchange programme (DDEP) that was concluded in February.
Thus, today’s Graphic Business/Stanbic Bank Breakfast Meeting on the DDEP is the first of its kind meant to explore avanues to exploit the silver lining in the programme that cost some investors their funds through haircuts.
It will be on the theme: ‘DDEP: Lessons and Implications for How you Invest.’
The speakers at the thought leadership event are the Director General of the Securities and Exchange Commission (SEC), Rev. Daniel Ogbarmey Tetteh, who will speak on the role of investments in the national development agenda and its benefit to investors; an Associate Professor of Economics, Prof. Festus Ebo Turkso, who will address participants on the triggers of the DDEP: lessons and strategies to prevent a repeat; and a chartered accountant and former Chief Executive Officer of the National Pensions Regulatory Authority (NPRA), Dr Dan Seddoh, who will explore the future of investments and how to regain public trust.
The event will take place at the Labadi Beach Hotel with the Managing Director of the Ghana Stock Exchange (GSE), Abena Amoah, as the Chairperson.
The tquarterly initiative by the two institutions is aimed at exploring the lessons and implications of the DDEP – a prerequisite to accessing assistance from the International Monetary Fund (IMF) to resuscitate the economy – that shook the confidence of investors.
The DDEP resulted in the swapping of about GH¢87 billion short-dated bonds that had an average coupon rate of 19 per cent for long-dated ones with yields averaging nine per cent.
It will be broadcast live on JOY FM and the social media handles of the Daily Graphic and the Graphic Business.