The government has proposed a 15% coupon rate but a group of about 50 pensioners in the midst of singing patriotic Ghanaian songs told Citi News that they will not accept a haircut on their investment because their livelihood depends on the investment’s returns.
One pension bond holder told Citi News, “the only term we know now is total exclusion. They are releasing pension funds so that we pensioners will go back to the pickets again.
“I will come and sleep here because the investment I made is to pay for my medicine”, added another.
Meanwhile, the window for bondholders to complete the tender process in the DDE program has been extended by the government even to Tuesday, February 7, 2023, the last date that had been given earlier.
The extension was necessary due to technical problems faced by some bondholders as “they tried to complete the tender process online,” so that those who could not complete the process.
Such persons have up to three days to complete the process.
The Ministry of Finance in a statement signed by the Minister, Ken Ofori-Atta, announced: “As a result, the Government has given bondholders a window to complete the bond tender process, in response to the Exchange’s amended terms under the Amended and Restated Exchange Memorandum. This window ends on Friday, February 10, 2023 at 16:00 (GMT).”
But it seems that the group’s cries were not heard.