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.”
- 3 die, 8 go blind as FDA cautions against certain eyedrop brands
- Parliament approves all six ministerial nominees
- Get financing assurances from creditors, partners before Board approval – IMF to Ghana
- Minority MPs oppose approval of 2 Supreme Court Justice nominees
- Playback: MPs voting on approval of Akufo-Addo’s ministerial appointees
- Akufo-Addo laughs over Volta Regional Minister’s new nickname- ‘Triple 66’
- AFCON 2023Q: Benching Andre Ayew was my choice – Chris Hughton
- ‘I’ll direct that your hand be cut off one day’ – Speaker teases Afenyo-Markin
- We’ve had positive talks with China over $1.7bn debt – Finance Minister
- 2023 AFCONQ: Ghana 1-0 Angola: Player Ratings – Partey shines, Mensah struggles
- Chris Hughton told me Baba Yara pitch is one of the best he’s seen – NSA Boss
- U23 AFCON 2023Q: Black Meteors held to 1-1 draw in Algeria
- Principal fired after Florida students shown Michelangelo statue
- Vatican returns Parthenon sculptures to Greece
- Chad nationalises assets belonging to Exxon Mobile
- NPP Bono Regional Organizer supports TESCON with 200k
- Mbappe scores in France heavy win over Netherlands
- This woman left her AirPods on a plane. She tracked them to an airport worker’s home
- Cedi depreciates by 22.1% in March 2023 – BoG
- I am not ready to die – Bagbin says as he calls for adjournment of prolonged sitting
- Ghana’s debt unchanged at ¢575.7bn – BoG
- Government makes additional payment for outstanding coupons
- Speaker congratulates approved ministerial nominees
- Playback: One-on-one with Prof Ofori Birikorang on PM Express
- This Saturday on Newsfile