Individual bondholders committee to complete work this week

The joint technical committee working to address the concerns of individual bondholders is expected to complete its work by the end of this week.

The committee comprising representatives from the government and the bondholders have been meeting and exchanging ideas since Thursday, January 19, 2023.

According to Citi News sources, the bondholders who held a town hall meeting on Sunday welcomed the idea of the committee only if it helps in exempting them from the programme.

In an interview with Citi News, one of the lawyers for the bondholders, Martin Kpebu indicated that his clients are only in favour of a decision that excludes them from the debt exchange programme.

“So for them, they are happy as long as the result will be that individual bondholders are exempted. So it’s not like they wholeheartedly embrace the committee. They gave a caveat that this committee is welcomed only if it results in the exemption of individual bondholders. That is the kind of reception it had. Let’s hope that the committee will finish up its work this week and present its report and that the Finance Minister will grant a 100% exemption of individual bondholders from the DDE. We will finish [our work] this week,” Martin Kpebu expressed.