Debt Exchange Programme: Government reaches agreement with Ghana Insurers Association
The Government of Ghana and the Ghana Insurers Association (GIA) have reached an agreement on the participation of insurance companies in the Domestic Debt Exchange Programme (DDEP).
Under the agreement, insurance companies will participate in the the programme on similar terms as the Banks.
This was contained in a joint statement issued by the Ministry and the GIA on Thursday January 26, 2023.
“That the Government through the solvency window of the Ghana Financial Stability Fund (GFSF), will provide support for the insurance companies that are seriously affected by the DDEP. The objective is to protect jobs and the stability of the industry,” a portion of the statement reads.
According to the statement, “The GIA is happy to reach a deal with the Government that protects its members, but also enabling the Government to push through the necessary economic reforms at this
difficult times.”
It noted that, “This milestone on the back of the success with the banking industry, has taken the
Government closer to completing the DDEP which is a key factor to restore economic
stability and growth.”
Source: Ghana News
