Convener of the Pensioner Bondholders Forum, Dr. Adu Anane Antwi says government’s decision to reduce the rate for bondholders will have dire consequences on pensioners.
His comments come at the back of the Finance Minister’s announcement on the deadline for the Debt Exchange Program while urging bondholders to sign up for the enhanced version of the program.
According to him, much progress has been made in securing an IMF deal.
” It was our expectations that collectively we’d have concluded the Domestic debt exchange Program by end of January. To anchor our efforts to alleviate the debt burden in the most transparent, equity and sustainable manner. However, we admit that there were legitimate and critical concerns that needed deeper and broader consultations.
The requisite efforts to address them have resulted in improved terms and changes in the closing date.
Tuesday, 7 February 2023 is the final deadline for institutions and individuals to sign up for Ghana’s domestic Debt Exchange Program. As a listening government, we have engaged all stakeholders on a daily basis,” Finance Minister stated.
Dr. Adu Anane bemoaned that offer by government is not favorable as some of the pensioners depend on their investments for medications and their livelihoods.
“Regardless of that, all that we are saying is that some people have gotten these bonds at 25, if you say you are paying them 15, you have taken 10 percent out of their regular income. That 10 percent which they have to use to buy their medication, you are taking it out, what are you replacing with the 10 percent?,” He said.
Pensioner Bondholders earlier yesterday picketed at the Ministry of Finance to drum home their grievances.
