The Convenor of individual Bondholders Forum has described the Finance Minister, Ken Ofori Atta’s assurance that those who wish to be exempted will not be penalised as welcoming.

Speaking in an interview on Joy FMs Top Story on Monday, Mr Senyo Hosi said the decision is an honourable position to take.

“We welcome the position by the Finance Minister to honour all obligations relative to the old bonds – individuals who opt not to participate in the DDE programme,” he said.

This comes after the Minister in a meeting with the Individual Bondholders on Friday reiterated the position that the DDE is voluntary for individuals.

According to him, the government will honour its obligations to individuals who opt to retain their original bonds. Thus, there will be no punitive action against such individuals.

He further stated that the Ministry of Finance has no responsibility for happenings on the secondary market. For this reason, he cannot assure market liquidity for the old bonds.

Mr Hosi said, per the assurances, there won’t be any discrimination between old and new bonds.

He added that although the new bonds will be more available on the markets, the old bonds will be economically and legally superior, noting that it will be more sought after than the new bonds.

As a result, he urged the old bondholders not to be worried about the tradability or liquidity.

“If you want to keep [old bond] keep it, you are safe,” the convener assured.

He further entreated bondholders not to lose faith in the economy of the country, adding that individual bondholders must continue to invest in the finance sector.

“It is households who actually drive the fundability of an economy. We cannot take our monies out and walk away, we should invest back in the system – put your monies in the banks, save the cedi,” he said.