The Individual Bondholders’ Forum has called on the government to honour all coupon and principal payments due bondholders with bonds not tendered into the Domestic Debt Exchange Programme (DDEP).

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

Mr Ofori Atta had earlier promised individual bondholders who refused to tender their bonds into the domestic debt exchange programme will have their existing coupons honoured when the date is due for payment.

Several pensioner Bondholders have also been picketing at the Finance Ministry for six days now to demand the government completely exclude their bonds from the domestic debt exchange programme.

In the letter, the individual bondholders stated that honouring payments on due bonds will re-engineer public and investor confidence and trust in the activities of the Finance Ministry.

Below is the full letter to the Finance Minister

REQUEST FOR OUTSTANDING PAYMENTS ON DUE BONDS

We refer to your affirmation of the Government’s commitment to honour all coupon and principal payments due to individuals with holdings of bonds not tendered into the Domestic Debt Exchange programme (DDE).

We wish to remind you that payment of coupons and principal for bonds that matured since the 6th of February to date (herein referred to as ‘Due Bonds’) remain outstanding. With the DDE deadline of 10th of February over, we trust that Government will be in a clear position to ascertain the total bonds due for payment after the completion of the DDE settlement scheduled for 14th February 2023.

We hereby request your advice of the date for coupon and principal payments due under the ‘Due Bonds’. It is our expectation that Government will seize this opportunity to re-engineer public and investor confidence and trust, by making the payments not later than Friday, 17th February 2023.

We count on your cooperation.
Sincerely,
Senyo K. Hosi
Convener