General News

Don’t delay any more in paying our coupons – Pensioners warn gov’t despite receiving payments

The Pensioners Bondholders Forum has confirmed that members have been receiving payments on matured coupons and principals since Tuesday, March 14 as promised by the Ministry of Finance.

We, however, wish to state that as much as we recognize the efforts of the Government to pay all outstanding coupons and principals of the old bonds, we reiterate that pensioners were exempted from the DDEP, and consequently must always be paid their coupons and principals on due dates without delay, and in the same manner as was done prior to the DDEP,” the Forum said in a press release signed by Convener Dr Adu A. Antwi on Monday, March 20.

The pensioner bondholders had raised concerns after government missed payment on maturing bonds on Monday, March 13.

The Finance Ministry admitted to the administrative lapses, promising to pay within 48 hours.

“Holders of the afore-listed bonds should therefore expect to receive their payments within the next 48 hours,” the Ministry promised.

According to the Forum, though payments are being received as promised, it does not want the “anomalous situation” to persist since their members opted out of the Domestic Debt Exchange Programme (DDEP).

If the situation persists, the pensioners threatened, “we shall be left with no other option than to explore other means of getting resolution to the situation”.

We are happy to engage the Ministry further, if required, but trust that this will not be necessary.”

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