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Pensioner Bondholders Will Protest At The Finance Ministry.

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BNN Correspondents
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Pensioner Bondholders have given notice that they will start picketing at the Ministry of Finance on Monday, February 6, 2023, and continue until their demands to prevent the government from taking a haircut on their bonds are satisfied.

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The Convenor of the Pensioners, Dr. Adu Anane Antwi, released a statement on their behalf, stating that "we have as of today not been granted our request," and that "to further press home our request, we have informed the Police that 50 of our members intend to converge at the Ministry of Finance on every working day from 10am to 11am beginning from Monday, February 6th, until our request is granted by the Ministers."

Last Monday, the government announced that it had struck a deal with the individual bondholders, who would now be provided assets with a maximum term of five years rather than 15 years and a 10% coupon rate.

According to the press release, the government has declared that it would extend the deadline from January 31, 2023, to Tuesday, February 7, 2023, and that the new settlement date on Tuesday, February 14, 2023 will be confirmed in the new Exchange Memorandum.

The administration encouraged all stakeholders to engage in the Domestic Debt Exchange Program with the new conditions and deadline extension, calling it a crucial step toward achieving the nation's debt sustainability targets and reestablishing macroeconomic stability and economic growth.

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