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Bond investment

Government fails to pay pensioners as promised

The Convener of the Pensioner Bondholders Forum has raised concerns about the failure of government to honor its promise to pay coupons and matured principals on bonds that were not included in the Domestic Debt Exchange Programme (DDEP).

This group of people were not part of the over 80% of people who subscribed to the government’s program.

If readers would remember, the Finance Minister Ken Ofori Atta in the mid-part of last month, through an interview with the media disclosed that government needs the support of patriotic pensioners to help in the Domestic Debt Exchange Programme but whosoever feels he/she is not inter would be benefit from outright exemption from the scheme no matter what.

This statement was made when the likes of the former Chief Justice, Her Lordship Sophia Akuffo amongst others picketed at the forecourt of the Ministry of Finance to demand the government to exempt pensioners from their grand scheme because they have duly served the country diligently and deserve to enjoy from the fruits of their labor.

But lo and behold, at the close of Monday, March 13, 2023, none of the pensioner bondholders was paid a peseta even though the bond was due the exact day.

This has created tension between the government and the pensioners because they believe the government will not heed to their promises per the current happenings.

By a press statement released and signed by Dr. Adu A. Antwi, said they will advise themselves “ if the Finance Ministry fails to pay all matured principals and outstanding coupons due to the old bonds by the close of Thursday,March 16, 2023 we will do the needful and protest till our last breath”.

Situations of this caliber has been a major point of discord between the government and the public because the swift turn around, coupled with failed promises has created a long lasting bone of contention between both factions.

The government amongst all this pressure is yet to comment as their attention has been shifted on securing a $3 billion loan from the International Monetary Fund after months of signing a Service Level Agreement (SLA).

A government that fails to honor its commitments is a failed government which must not be trusted by citizens.

Content created and supplied by: Kaiser (via Opera News )

Ken Ofori Atta Pensioner Bondholders Forum Sophia Akuffo


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