DDEP: Pensioner Bondholders' engagement with Ofori-Atta fails to end 'exemption' deadlock

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.

But the pensioners disagreed and have insisted on a total exemption from the DDEP as they vowed not to quit until their demand is granted.

Lead Convener, Dr. Annane Antwi told the press the total exemption will better their lots than members choosing to opt out of the debt exchange programme.

“…Our members have looked at all. Your main concern of tradability, they say don’t worry about tradability. They are not interested in that. They want to keep their bonds and get their coupons as they are getting. But if you exempt us we are more assured than if we decide to opt out. The difference between the two is what is key."

He continued: "Our plan is to converge here every working day until we hear that we have been exempted.”

Also a former Chief Justice, 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.”

Pensioner bondholders have pitched camp at the Finance Ministry today picketing over the controversial Domestic Debt Exchange Program.

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

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