The Pensioner Bonholders Forum has raised concerns about the failure of government to honour its promise to pay coupons and matured principals on bonds that were not included in the over-80-percent-subscribed Domestic Debt Exchange Programme (DDEP).
The Forum said despite assurances of payments to those who opted out of the Programme, no one of them was paid as at close of day Monday, March 13.
“We are advising the Ministry of Finance to take steps to honour its promise to pay all matured principal and outstanding coupons due on the old bonds,” a press release issued on Tuesday, March 14 stated.
It said the bond market has already lost a great deal of confidence and the delay in payment of coupons and principals on bonds not tendered under DDEP is worsening the conditions of holders.
The Convener of the Forum, Dr Adu A. Antwi, who signed the press release, said they will advise themselves “if the [Finance] Ministry fails to pay all matured principals and outstanding coupons due on the old bonds by the close of business on Thursday, 16th March 2023″.
