Bondholders’ interests will be fully represented in parliament next week – Minority Leader

Minority Leader, Cassiel Ato Forson has assured Pensioner Bondholders and others that parliament will move swiftly to address the burning issues related to the ongoing domestic debt exchange program.

Pensioner Bondholders’ meeting with Finance Minister Ken Ofori-Atta on Friday, February 10, 2023 ended inconclusively as the government insists the retirees should consider voluntary exemption.

In a tweet, the leader of the opposition frontbench said the Finance Minister is billed to appear before the House by next to deal with the concerns of investors in the debt restructuring programme.

“It is disheartening to see our dear pensioners including a former Chief Justice picketing at the MOF over the domestic debt restructuring. I wish to assure her & the rest, parliament is dragging the Finance Minister before us next week and we will represent their interest fully!” a tweet by Ato Forson said.

A former Chief Justice, Sophia Akuffo was captured among a group of retirees who are demanding a total exemption of their investments from the Domestic Debt Exchange programme.

Pensioner bondholders on Friday pitched camp at the Finance Ministry to picket over the controversial Domestic Debt Exchange Program.

Sophia Akuffo wants the Finance Minister, Ken Ofori-Atta to go back to the drawing board and rework the terms of the Debt Exchange Program.

Sophia Akuffo livid over the inclusion of Pensioners’ investments in the Domestic Debt Exchange programme said: “I’m encouraging people not to sign up to anything, Yes, and if need be we can all go to court”

The group of about 50 retirees says they will not accept any haircuts on their investments despite government’s proposal of a 15% coupon rate.

Meanwhile, Vice President of IMANI-Africa, Bright Simons has tweeted saying it appears Ghana has concluded its drama-filled debt restructuring.

However, he said “analysts are eagerly awaiting what ratings the Rating Agencies will assign to the old bonds vs the new bonds on their LTLC IDR scale. Some head-scratching is inevitable given the twists & turns so far.”