Ghana’s bondholders have been left frustrated and disappointed as the government continues to delay payments of outstanding coupons and principal amounts.
Senyo Hosi, the Convener of the Individual Bondholders Forum (IBF), has revealed that the amount owed by the government in outstanding coupons and principal payments currently stands at GHS 1.29bn (GHS 365m as coupons and GHS 926m as principal) a significant sum that excludes payments owed to pensioners.
Hosi made the statement during a virtual meeting with bondholders on Sunday, April 23, 2023, where he also noted that three coupons out of 24 coupon payments are due in the month of April.
The IBF has proposed to the government that it pays all matured and outstanding coupons and principal amounts in cash as and when they fall due. However, if the government faces liquidity challenges, it can convert the GHS 926m principal payments of matured bonds into treasury bills which must be issued at the prevailing market price, Hosi further noted.
Meanwhile, despite assurances from the government, the Pensioner Bondholders Forum has threatened to resume picketing at the premises of the Ministry of Finance if the government fails to pay all outstanding coupons and principals of bond investments by April 28, 2023.
The forum believes that this is the only way to put an end to the payment delays that have caused so much hardship to many pensioners.
Story By Norvanreports.Com
