The Individual Bondholders Forum has insisted on the complete exclusion of its members from the Domestic Debt Exchange Programme, stating that their inclusion will destroy household confidence in Ghana’s financial system and securities market.

During discussions with the technical committee set up by the government to resolve issues surrounding the Domestic Debt Exchange Programme, the Individual bondholders, said their holdings through collective investment schemes stand at about GH¢15.5 billion, representing about 11% of the eligible bonds and the capitalized interest.

The individual bondholders added that with the set target of 80% of eligible bonds, Individual Bondholders are not a critical success factor to the viability of the DDE programme, yet the impact of their inclusion has incalculable consequences.

As part of recommendations to the Committee, the Individual Bondholders Forum led by Senyo Hosi recommended that the government divest loss–making, defunct and troubled 17 State–own
enterprises.

The Individual bondholders also suggested that the should government review the Free SHS Programme to make it more efficient through effective targeting and allowing parents who can pay to do so.

According to the group, “beneficiaries should be students that patronize Senior High Schools in their communities whilst other students should pay for boarding. However, the government can pay for students who do not have Senior Secondary schools in their communities.”

The group stated that divesting the 17 non-performing SOEs and reviewing the free SHS alone will provide the government with GH¢2 billion.

The group also urged the government to maintain the 2022 capital expenditure level by reducing the non–ABFA MDA and foreign finance Capex provisions by 50% which they claim will provide the 10.7 billion Ghana Cedis.

Click here to read the Final Report by the GOG-IBF Technical Committee