Seth Terkper,Ghana’s Return to Bond Market Shows Growing Investor Confidence

Presidential Advisor on the Economy, Seth Terkper says Ghana’s return to the domestic bond market after its debt restructuring programme reflects growing investor confidence and progress in the country’s economic recovery. Speaking at the SME Investment Forum in Accra, organised by the Nkabom Collaborative in partnership with the Association of Ghana Industries and other stakeholders, Mr Terkper acknowledged public concerns over the Domestic Debt Exchange Programme (DDEP), commonly known as the “haircut.” He noted that although debt restructuring and defaults often create uncertainty, similar situations have occurred in many countries facing economic difficulties. “I say this knowing that there is a certain scepticism because of the haircut and because of the defaults and other things, but these are happening in other countries,” he said. According to him, Ghana’s ability to re-enter the domestic debt market is a positive sign that the economy is stabilising. “We are emerging out of the haircut and we are emerging out of the defaults in particular, and we are back — the government is back on the Ghana market,” he added. The forum focused on improving access to finance for small and medium-sized enterprises, especially businesses in Ghana’s agri-food sector, which continue to face funding challenges.