Pensioner Bondholders to picket at Finance Ministry

Pensioner Bondholders have served notice that they will from tomorrow, Monday February 6, 2023 begin picketing at the Ministry of Finance until their demands to spared the government hair cut on their bonds are met.

A statement issued on their behalf my the Convenor of the Pensioners, Dr Adu Anane Antwi said " we have as of today not be granted our request" adding that " to further press home our request, we have informed the Police that 50 of our members intend to converge at the Ministry of Finance on every working day from 10am to 11 am beginning from Monday 6th February till our request is granted by the Ministers".

Government last week said it has reached an agreement with the individual bondholders. 

Per the new terms, individual bondholders who are below the age of 59 years will be offered instruments with a maximum maturity of 5 years, instead of 15 years, and a 10 per cent coupon rate.

All retirees (including those retiring in 2023) will also be offered instruments with a maximum maturity of 5 years, instead of 15 years, and a 15 per cent coupon rate. 

The government has announced what it described as its final extension of the deadline from January 31, 2023, to Tuesday February 7, 2023, and a new settlement date of Tuesday February14, 2023 that will be confirmed via the new Exchange Memorandum, according to the release.

With the new terms and deadline extension, the government, in the release, encouraged all stakeholders to participate in the DDEP, an essential step towards meeting the country’s debt sustainability targets and restoring macroeconomic stability and economic growth.