Memorandum of understanding between Government and Labour on the Exemption of all pension funds in the Domestic Debt Exchange programme announced on Decemmber 5, 2022

Ministry of Finance has released a statement indicating that there is a memorandum of understanding between Government and Labour on the exemption of all pension funds in the Domestic Debt Exchange Programme announced on December 5, 2022.

Following the meetings held at the Ministry of Finance in December 2022 to address concerns regarding the exemption of all pension funds in the Domestic Debt Exchange (DDE) Program announced by Government of Ghana (GoG0), represented on the one hand by the Ministry of Employment and Labour Relations, Ministry of Finance, and Ministry of National Security, and on the other hand by Organized Labor/Association represented by leadership of all Labor Unions/Associations,

All pension funds will be exempt from the DDE Program as a result of a decision made by the government. The government and organized labor/associations will nevertheless cooperate to look into mutually advantageous options that fall within the debt sustainability parameters while also promoting macroeconomic stability recovery in the spirit of social partnership.

See statement below;