Actor George Clooney, singer-songwriter Amy Grant, singer Gladys Knight, composer Tania León and rock group U2 had been celebrated on Sunday for his or her contributions to the humanities at a White Home reception and a music-filled Kennedy Heart Honors present.
The Kennedy Heart occasion, now in its forty fifth yr, acknowledges stars from music, stage and display screen for his or her contributions to American tradition.
At a reception for the 5 honorees on the White Home, President Joe Biden addressed every artist personally, praising their particular person skills and saying they embodied the spirit of the nation.
“We’re assured that these measures will contribute to restoring macroeconomic stability,” he stated.
Below the home debt trade, native bonds can be exchanged for brand new ones maturing in 2027, 2029, 2032 and 2037 and their annual coupon can be set at 0% in 2023, 5% in 2024 and 10% from 2025 till maturity.
The federal government is in talks with the Worldwide Financial Fund for a assist programme to alleviate its debt misery.
The native cedi foreign money has plummeted greater than 50% in opposition to the greenback in 2022, whereas the central financial institution hiked its major lending charge to 27% final Monday after inflation hit a 21-year peak in October.
Ofori-Atta stated the federal government needed to minimise the affect of the debt swap on small buyers so wouldn’t apply the phrases to Treasury payments or to holders of particular person bonds. There can even be no haircut to the principal of the bonds, he stated.
“It ought to reinforce expectations that Ghana is on its solution to an IMF staff-level settlement. We count on the Ghana cedi to profit in consequence,” stated Razia Khan, Chief Africa Economist at Normal Chartered.
“There was little query that Ghana wanted LCY (native foreign money debt) coupon reductions to revive macro sustainability. By excluding retail buyers, that is prone to be extra politically palatable,” she added.
How the plan will affect people remains to be to be decided as many maintain bonds by way of mutual and pension funds.
Ofori-Atta stated the federal government would arrange a monetary stability fund with the assist of improvement companions to assist home monetary establishments, together with banks and pension funds, climate the swap.
“I say to you, nothing can be misplaced, nothing can be lacking, and nothing can be damaged. We’ll, collectively, get better all,” he stated.
