Fitch said it does not see Treasury bills being included in the programme in the near term.
According to the UK-based firm, treasury bills have become the government’s main financing tool, therefore deciding to include it in its exchange programme will be suicidal to its finances.
A Senior Director of Emerging Market and African Sovereign Ratings at Fitch Ratings, Toby Illes, speaking at the Africa Webinar Series titled “Reform and New Challenges in Western Africa” projected that the government will not restructure T-bills.
“We don’t expect T-bills to be restructured. Just given the need for that financing tool, we wouldn’t expect that to be included.
“In Ghana’s case, it is generally very complicated to include that in domestic debt restructuring. I guess the main question is that domestic debt restructuring we would have now is about that the domestic debt restructuring is more about medium-term when actually you move a lot of these maturities down the line,” he said.
Tony Illes said his worry is about the huge domestic debt servicing expected in the years 2027 and 2028 respectively.
He said: “The policy adjustment from now till then is a downward trend. However, as I said when we get to 2027-2028, we would have a huge hung of domestic debt service.”
‘Onyame ehu wo o’ – Kuami Eugene jabs house help in new song
Nigerian Air Force helicopter crash for Port Harcourt
British Nigerian confesses to stealing $6 million from U.S. firms
HOT VIDEO: Leaked Video of a Ghanaian Seamstress goes viral
VIDEO: Pupil teacher c*ught having s*x with 11-year-old in an uncompleted Building
NDC declines EC’s invitation to review 2020 polls
SHOWBIZ KONKONSAH3 weeks ago
Amerado: A rap star proving his mettle with ‘Kwaku Ananse’ story
GENERAL NEWS2 weeks ago
New details on mansion where Mrs. Kufuor is buried emerges
GENERAL NEWS2 weeks ago
Watch as a brave Ghanaian farmer battles with a wild python he found on his farm
America2 months ago
Tupac Shakur’s sister calls new murder charge ‘pivotal moment’
SHOWBIZ KONKONSAH2 weeks ago
WATCH: Showboy released from US prison, deported back to Ghana
Finance2 weeks ago
#Don’tTaxMyPeriod protesters ‘ambush’ Ofori-Atta at parliament ahead of budget reading
South Africa News3 weeks ago
Criminals have declared war on South Africans – police minister
Lifestyle2 weeks ago
Couple gives birth to Quintuplet after 8 years of childlessness