Bondholders to meet Ofori-Atta over March 13 ‘assurance’

Representatives of bondholders who did not subscribe to the Domestic Debt Exchange Programme (DDEP) have raised doubts about the assurances given by the Ministry of Finance to pay coupons on old bonds by Monday, March 13.

The Ministry, in a statement on Monday, February 27, assured that administrative steps are being taken to ensure that coupons and principals on old bonds are paid by the set date.

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But speaking on Ghana Tonight on TV3 on Monday, February 27, a legal representative of the Individual Bondholders Association of Ghana, Martin Kpebu, said the import of the statement to them is that not all will receive payment by March 13.

“This is a window that is open so that by the 13^th [March], some people will be paid [but] some will not be paid,” he said, adding that the statement issued by the Ministry “doesn’t commit to payment to everybody who is owed money”.

He, therefore, indicated that all the bondholders, be it individual or pensioners, will seek audience with the Minister of Finance, Ken Ofori-Atta, for proper assurances on the new development.

“We’ll meet as a collective and go see the Minister for clarification.”

Source:3news.com