The Convener for Pension Bondholders Forum, Dr. Adu Anane Antwi has advised the Government to compromise with Bondholders in the restructuring of its debt instead of forcing them into the Debt Exchange programme.
According to him, these creditors have the right to their money and can reject the programme if not properly explained to them.
This comes after Government refused to exempt pension Bondholders from the Domestic Debt Exchange programme.
Speaking in an interview on JoyNews, The Pulse, on Wednesday, Dr. Adu Antwi said, “If there is restructuring, the key thing is negotiation, you negotiate with your creditors to agree on how they are going to allow you to bring a new programme.
“Without negotiation, you can't impose anything on your creditors because they have the right to their money.”
“So if you can't pay, what you have to do is to negotiate. I am emphasising ‘negotiate’ since you cannot impose your will on anybody.” he added.
The former Director-General of the Securities and Exchange Commission (SEC) continued that government should meet with local investors as it has met with foreign investors to come to an agreement since they all have equal rights.
“As we speak, the government is meeting representatives of foreign investors. I read that they have appointed a committee to meet and negotiate. Why will government negotiate with them?
"And if you will meet your foreign investors, why don't you think you need to meet your local investors? We all have equal rights as bondholders. There is no difference between a foreigner who holds a government bond and a right of domestic bondholders.” he told Blessed Sogah.
The individual bondholders have vowed not to sign unto the programme with five days left before the deadline.
Private Legal Practitioner, Martin Kpebu is currently leading a group of individual bondholders who are looking forward to initiating a class action against the government if negotiations with government fail.
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