Audio By Carbonatix
With less than 24 hours for the government to announce the completion of its debt restructuring programme, the Individual Bondholders Forum (IBF) says its members could exempt themselves without any punitive actions by government.
This, they say comes from the government's assurance to honour its obligations to individuals who opt to retain their original bonds during their meeting on Friday, January 27.
“We welcome the Minister’s affirmation of the rights of individual bondholders to have the benefits of their current investment fully honoured without discrimination or punitive actions against non-DDE individual investors.
“This, in effect, presents individuals with a self-exemption option which bears no negative implications as far as government’s payment obligations are concerned,” a statement from the Forum on Monday, January 30 noted.
The IBF said it is yet to receive the Finance Ministry’s revised proposal for consideration, evaluation and advise to its members despite the Ministry’s assurance that it is considering presenting a revised debt exchange offer on Monday, January 30 for individuals to consider participating if they desire.
Convener of the Forum, Senyo Hosi who signed the statement urged his members not to sign up for the debt exchange if they intend to maintain their original bonds.
However, it said, “If you feel compelled to support the DDE programme for other reasons, please, do not hesitate to sign on to the DDE.”
The statement stressed that members should not harbour any form of fear of being punished for rejecting the debt exchange programme.
“The law is in your favour and the Minister of Finance has been categorical in affirming your right by stating that he will honour obligations under the old bonds and will not undertake any action to punish individuals who reject the DDE.”
The Forum further provided some recommendations to its members and collective investment schemes.
“To support the turnaround of the economy, we encourage all not to lose confidence in Ghana’s financial system. The continuous investments and savings of everyone is required to spur the growth of our economy.”
“We urge every citizen to file their taxes and honestly pay up all obligations due. We all owe it to Mother Ghana to make things work.”
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