Pensioner bondholders afraid for their safety as they challenge government’s invitation
Bonds
Pensioner bondholders have stated that they are afraid to speak up even though their inclusion in the debt exchange programme affects their investments and their livelihoods.
Read full articleAccording to them, the government’s decision to include them in the programme is not only unfair to them but also an infringement on the zero-risk agreement they had before signing up.
A 61-year-old pensioner who spoke to GhanaWeb Business on anonymity from fear of being attacked said as a fresh pensioner she was advised by the bank to invest in treasury bills and also purchase government bonds since there was no way she would lose her money.
She noted that her 35 years of service was to ensure that upon retirement, her basic needs such as food, healthcare, and other family responsibilities do not burden her.
But since the announcement was made, she has dreaded the decision to partake in government bonds.
She said, “I went to the bank when I retired and asked them for good advice on how I can use my money. They told me to invest in government bonds and treasury bills because there was no way the government will owe me. I only had my first coupon on January 9, 2023, and that’s what I have been using to buy medicine and take care of myself. Thankfully I no longer pay school fees, but other responsibilities demand that I am financially stable.”
“They can’t do this to us. And even though it is our own money, we can’t say much or reveal our identities because of fear of what may happen to us.
I realized that being too vocal in Ghana today will only land you in trouble,” she said on anonymity.
The Pensioner bondholders have stated that they will not partake in the debt exchange programme.
SSD/FNOQ
