Government says it has achieved more than 50 percent participation of its target for the controversial Domestic Debt Exchange Programme (DDEP).

The government had 80 percent target for the exercise and it has now had more than 50% bondholders signing up for it. 

A Deputy Finance Minister, Madam Abena Osei Asare has disclosed.

According to her, the 3-day extension is to make room for more bondholders who could not sign up due to pressure on the systems to do so. 

“As of yesterday, when we decided to extend and grant that administrative window, we had done above 50 percent,” Madam Abena Osei Asare said in an interview with Citi FM on Wednesday, February 8. 

The Finance Ministry has granted a three-day Administrative Window for Bondholders under the Programme to complete the process. 

Based on this development, the Domestic Debt Exchange Programme will now end on Friday, February 10.

According to sources, the sudden rush by bondholders to sign up close to the deadline placed “some strain” on the IT infrastructure.