Individual bondholders’ concerns about the payment of principal and coupons on their illiquid bonds have been allayed by the Ministry of Finance.
The Ministry reports that all old bonds will begin receiving payments on March 13.
This only applies to former bondholders who did not register for the DDEP, according to the Ministry.
“Secondly, in fulfillment of the assurance given by Government to bondholders who did not tender, the Ministry is taking administrative steps to ensure that payments of coupons and principals of the old bonds resume by 13th March, 2023,” part of the statement reads.
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The assurance was given in the midst of three bondholder groups demanding the immediate payment of coupons and principal that were due on February 6 and February 20, 2023, marching to the Finance Ministry on Monday.
The coalition of individual bondholders groups, which consists of the Pensioner Bondholders Forum, the Individual Bondholders Association of Ghana, and the Individual Bondholders Forum
On Monday, February 27, the group gathered at the Finance Ministry to check on the payment of coupons and principal for bondholders whose bonds had matured but whose payment had not been honored despite the government’s assurances.
Dr. Adu Anane Antwi, a coalition member, told Citi News that the government has had ample time to compile a list of those who failed to submit their bonds for the debt exchange so that they can be paid.
In spite of his assurances, he continued, Finance Minister Ken Ofori-Atta has failed to explain why their matured bonds have not yet been paid.
