Deputy Minister of Finance Abena Osei Asare has urged the Pensioners Bondholders Forum to be patient with the New Patriotic Party (NPP) administration.
She stated that the government is devoted to paying them their bond coupons.
The deputy finance minister pleaded with the pensioners to put their protest on hold while the government makes an active effort to raise money to meet its obligations.
She made a point of stating that the government is not purposefully delaying the payment of unpaid coupons. Instead, the current economic crisis and the lack of funding are what are primarily to blame for the delay.
“We don’t intentionally stop them, sometimes it’s difficult, it is the ability to pay and so when it is not there it becomes a challenge, but we also have to communicate that to you. So, for now, our focus should be on the five outstanding, and then we talk about how we will manage the principal payment.
“I sincerely appreciate where you are coming from. This has never happened when coupons are ready for payment and the government is struggling to pay, but currently, we all know the circumstances we find ourselves in, so I will plead with you so let’s sit and clear, and then we will see the way forward.”
Following a meeting between the Ministry and the holders of Pensioner Bonds, the group decided to put an end to their protest in the interim, with the understanding that all past-due coupons would be paid and that principal payment discussions would go forward.
Although some coupons are still unpaid, the government has yet to consult the pensioners on the best course of action after two weeks.
