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3 bondholder groups demand immediate payment of matured coupons

Three bondholder groups are demanding the immediate payment of coupons and principals which matured on February 6th and 20th.

The group is made up of the Pensioner Bondholders Forum, Individual Bondholders Association of Ghana and Individual Bondholders Forum.

On Monday, February 27, they gathered at the Finance Ministry to check on the payment for coupons and principals for bondholders whose bonds had matured but had not been honoured.

This follows government’s assurance that it will honour its commitments to domestic investors once their bonds mature.

Also, the Finance Minister, Ken Ofori-Atta promised that outstanding bonds which matured on February 6 for which government defaulted, will be honoured after February 21.

“Settlements will be made after Tuesday, February 21 and then we can begin to look at processing everybody’s [bonds],” Finance Minister assured the pensioner individual bondholders when they met to thank him for exempting them from the Debt Exchange Programme.

Explaining the reason for the delay in payment, Mr. Ofori-Atta pointed out that the processing of coupon payments delayed due to the settlement period for the programme.

He, however, reiterated that the government is working to ensure that every bondholder is paid upon maturity of their bonds and urged the bondholders to remain calm.

However, the group says some investments which matured this month, have still not been paid.

JoyNews’ Joseph Ackay Blay in an interview with convener of the Pensioner Bondholders Forum, Dr. Adu Anane Antwi said the group wants to know what is causing the delay in payment.

According to him, individual bondholders are worried.

“We are here to find out why coupons the Minister said will be paid on the 21st after the settlement day, we haven’t heard any information from the Ministry and therefore, we have come to find out why the payment has not been made yet,” he said.

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