According to the Ministry, payments on all existing bonds will begin on March 13.According to the Government, this only applies to old bondholders who did not enroll in the DDEP.
“Secondly, in fulfillment of the assurance given by Government to bondholders who did not tender, the Ministry is taking administrative steps to ensure that payments of coupons and principals of the old bonds resume by 13th March, 2023,” part of the statement reads.
The guarantee comes as three bondholder organizations marched to the Finance Ministry on Monday to demand the prompt payment of coupons and principal due on February 6th and 20th, 2023.
Individual Bondholders Forum, Individual Bondholders Association of Ghana, and Individual Bondholders Forum comprise the Coalition of Individual Bondholders Organizations.
On Monday, February 27, the group assembled at the Finance Ministry to check on the payment of coupons and principal for bondholders whose bonds had matured but whose payment had not been honored despite the government’s commitment.
Dr. Adu Anane Antwi, a coalition member, told Citi News that the government has had enough time to create a list of those who did not tender in their bonds for the debt swap in order for them to be compensated.
He went on to say that despite his pledges, Finance Minister Ken Ofori-Atta has failed to explain why their matured bonds are still to be paid.
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