Honour outstanding payments on due bonds – Bondholders to Ofori-Atta

Deliver outstanding payments on bonds due – Bondholders to Ofori-Atta

CitiFm

Monday 13 February 2023 18:37

The Individual Bondholders’ Forum called on the government to honor all coupons and principal payments paid to bondholders with bonds not included in the Domestic Debt Exchange Program (DDEP).

In a statement, Convener Senyo Hosi reminded the Minister of Finance, Ken Ofori-Atta, that coupon and principal payments for bonds that have matured from February 6 to date (herein referred to as ‘Due Bonds’) remain outstanding.

Mr. Ofori Atta earlier promised individual bondholders who refused to submit their bonds to the domestic debt exchange program that they would honor their existing coupons on the due date.

Some retired Bondholders have also held a six-day picket at the Ministry of Finance to ask the government not to remove bonds from the domestic debt exchange program.

In the letter, the individual bondholders stated that they appreciate the payment in the bond because it will re-design the confidence and trust of the public and investors towards the activities of the Ministry of Finance.

Below is the full letter to the Minister of Finance

A request to pay the outstanding on the bond due

We see your confirmation of the Government’s commitment to honor all coupons and principal payments due to individuals who have bonds that are not included in the Domestic Debt Exchange (DDE) program.

We would like to remind you that the coupon and principal payments for the bonds that matured from February 6 to date (herein referred to as the ‘Due Bonds’) remain outstanding. With the February 10th DDE deadline passed, we believe that the Government will be in a clear position to ensure that the total amount of bonds is payable after the completion of the DDE settlement scheduled for February 14th, 2023.

We hereby request your advice regarding the date of payment of coupon and principal payable under the ‘Due Bond’. We hope that the Government will use this opportunity to redesign the trust and confidence and trust of the public and investors, by paying no later than Friday, February 17, 2023.

We look forward to your cooperation.
Sincerely,
Senyo K. Hosi
Convention

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