The members of the group are demanding a total exemption of their investments from the Domestic Debt Exchange programme.
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Day 4: Pensioner bondholders want total exemption from DDEP as they picket
The picketing by the Pensioner Bondholders Forum at the Ministry of Finance, has entered day four today, Thursday, 9 February 2023.
Its day 4 as pensioner bondholders return to Finance Ministry to picket over DDEP
Government has proposed a 15% coupon rate but the group of about 50 retirees amidst singing patriotic Ghanaian songs told Citi News that they will not accept any haircuts on their investments as their livelihoods depend on the proceeds from these investments.
One pensioner bondholder told Citi News, “the only term we understand now is a total exemption. They exempted pension funds so we the retirees will return to picket again.”
“I will come and sleep here because the investments I made are what I used to pay for my drugs”, another added.
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Meanwhile, the window for bondholders to complete tender processes under the DDE programme has been extended by government despite the Tuesday, February 7, 2023, deadline that had earlier been given.
The extension was necessitated by technical glitches that some of the bondholders faced as “they tried to complete the online tender process,” to enable those who were unable to finish the process do so.
Its day 4 as pensioner bondholders return to Finance Ministry to picket over DDEP
Pulse Ghana
Such persons have up to three days to complete the process.
The Finance Ministry in a statement signed by the Minister, Ken Ofori-Atta, announced: “As a result, Government is providing bondholders with a window to complete processes for tendering their bonds, in response to the terms of Exchange as amended pursuant to the 2nd Amended and Restated Exchange Memorandum. This window ends on Friday, 10th February 2023 at 4:00 p.m. (GMT).”
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But it appears the cries of these groups have not been heard.
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