Pensioners Bondholders exempted from the government’s Domestic Debt Exchange Programme (DDEP) have given the government a two-week ultimatum to pay coupon rates on matured bonds.
They accused the government of defaulting in paying the yields.
The Finance Ministry in a statement released on the 27th February, 2023 promised to honor coupon rates on matured bondholders who did not sign up for the Domestic Debt Exchange Programme (DDEP).
The statement said “in fulfillment of the assurance given by Government to bondholders who did not tender, the Ministry is taking administrative steps to ensure that payments of coupons and principals of the old bonds resume by 13th March, 2023”.
Days after the assurance by government, some bondholders say they are yet to receive payment of coupons and principals on their investments.
Speaking in an interview with Joy Business, Convener of the Pensioner Bondholders Forum and also a former Director-General of the Securities and Exchange Commission, Dr. Adu Anane Antwi said affected persons will resume picketing if the government fails to honor the claim.
“If you exempt any bonds, you have effectively said as for your bonds, I don’t have any problems paying so go and sleep anytime your coupon is due, just go to your bank and it will be there, that is the dictate of the market and government is not doing that we have drawn attention of government to that, is the third time we are doing that,” Dr. Antwi lamented.
“We think that we will not allow it to continue and that’s why we are saying if by 21st all these anomalies are not resolved for us to return to normalcy and get our coupons and principals as and when they are due, then we will resume our picketing” he added.