Financial consultant Patrick Baah Abankwah has stated that the Cedi will rise again in the next two weeks if the IMF deal goes through.
In a report released on February 14, the Finance Ministry assured: “all individual bondholders who elected not to participate that your coupon payments and maturing principal like all government bonds will be honoured in line with government fiscal commitment.”
Mr Abankwah explained in a chat on SVTV AFRICA that the government has assured individual bondholders who did not sign for the new bonds at their respective banks will be paid this year once their investment matures. He revealed that this is the final part of the debt exchange program.
The financial expert disclosed that if the government honours their promise, it will be good news for the financial sector “because what is happening now has created a bit of difficulty for investment in this country.”
“People are not convinced, and I’m not convinced either. The government does not give people confidence. There will be no money in the system if people start investing in assets,” he said.
Patrick mentioned that the Ghana Cedi will appreciate in two weeks because of the report released by the government.
In all this, investors can breathe because the processes have ended. “If the government has met the target, the deal may be approved by March,” he added.
Kindly watch the full interview below;