Patrick Baah Abankwah, a financial consultant, predicted that the value of the cedi will begin to increase once more within the next two weeks if the deal with the IMF is approved.
In a report made public on February 14, the Ministry of Finance stated that “all individual bondholders who chose not to participate that your coupon payments and maturing principal, like all government bonds, will be honored in accordance with government fiscal commitment.”
During a conversation on SVTV Africa, Mr. Abankwah indicated that the government has informed individual bondholders that they will be paid this year after their investment matures, even if they did not sign for the new bonds at their respective banks.
Mr. Abankwah was explaining this to viewers. He divulged the fact that this is the last stage of the debt swap program.
It was revealed by the expert in finance that if the government keeps its word, it will be beneficial for the financial sector. The expert explained that this would be the case “since what is happening right now has created a little hardship for investment in this country.”
“The general public is not convinced, and I cannot say that I am either. People lack faith in the government because of its actions. If individuals began investing their money in assets, he predicted that there would be no money left in the economy.
Patrick predicted that the value of the Ghanaian cedi would increase in two weeks as a result of a report that was just published by the government.
Investors can now take a deep breath now that all of these processes have been completed. “The government has met the target, and it is possible that the deal will be approved before the end of March,” he continued.