Government has not defaulted in payment of bonds - Spokesperson

Government spokesperson for governance and security, Mr. Palgrave Boakye-Danquah says the government has not defaulted in payment of bonds.

According to him, the government takes its responsibilities very seriously and has not defaulted on any of its bond payments from 2017 to 2022.

He said on ATL FM’s ATLANTIC WAVE on Wednesday that Ghanaians should therefore check the track records of the government and know principally that their investments are safe.

Mr. Boakye-Danquah said, as much as the bondholders have a contract with government, government will make sure they meet the terms of the contract.

“If you are about 59 years old, you get 15%of your investment and your bonds and the maturing rate. If you are below 59 years old you’re going to get 10% of your bond and the maturity rate… so such persons should have the trust of the government. You have signed a bond, you have invested in government bonds, you have a contract, and government is going to make sure that government meets the terms of the contract for you,” he said.

Mr. Palgrave Boakye-Danquah also indicated that government has taken proactive steps to manage the domestic debt exchange program and prioritize capital investments in critical sectors of the economy.

He explained that the ruling government had a very difficult transition from the start of the domestic debt exchange programme after the staff-level agreement and they are grateful to the Ghanaians for their support.

“We really would like to express our sincere gratitude and thanks to the entire Ghanaian people for having the fortitude and tenacity to walk through with government to be able to achieve the staff level agreement and even to be able to achieve the domestic debt exchange programme.”

Mr. Boakye-Danquah is of the view that as the country ‘came out strongly through COVID in this economic challenge, we would assure the Ghanaian people that we will bounce better and stronger as well.”

Meanwhile, the Minister of Finance, Ken Ofori-Atta says government is committed to honouring the bonds of the Pensioner Bondholders Forum when they mature.

He notes that the decision to bring the maturity period to five years and below is because most of the bonds go beyond five years and the decision was to ensure they can get their principals and interests earlier than agreed.

During his interactions with the members of the Pensioner Bondholders Forum who had picketed the Ministry yesterday, he said government will ensure their bonds are honoured adding that there is no need for them to keep picketing.

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