The Finance Minister, Ken Ofori-Atta, has pleaded with members of the pensioner bondholders’ forum to accept the new terms of a 15% coupon rate and 5% maturity rate for the government Domestic Debt Exchange Programme (DDEP).
It has been five days since the pensioners started picketing the Ministry of Finance to press home demands for exemption of their bonds from the government’s Domestic Debt Exchange Programme.
The pensioners believe the inclusion of their bonds will affect their livelihoods negatively.
Ofori-Atta told reporters that failure to secure a bailout with the International Monetary Fund by March may bring the country’s economy to a halt.
Watch the video below:
Meanwhile, on Friday (10 February 2023) the former chief justice Sophia Akuffo joined a picket line of pensioners who have been staging protests at the Finance Ministry, demanding that the government exempt them from the Domestic Debt Exchange Programme (DDEP).
The government has announced an administrative window for bondholders to complete processes for tendering bonds so that they can sign up to the DDEP.
The administrative window also expires today (Friday 10 February).
It is the fifth time that members of the pensioner bondholders’ forum are picketing the Ministry of Finance to demand total exemption of their investments from the debt swap. The government has proposed a 15% coupon rate: the pensioners, however, are rejecting this.
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