The Finance Minister, Ken Ofori-Atta, says all pensioners who did not participate in the bond offering are exempted.
He also reassured pensioner bondholders that the government will honour their coupons, payments and maturing principals “like all government bonds in line with government fiscal commitment”.
He gave the assurance when he addressed Parliament on the government’s Domestic Debt Exchange Programme on Thursday, February 16, 2023.
“Government remains committed to the wellbeing of our senior citizens. Indeed, it has personally caused me great distress as a number of our pensioners have picketed at the premises of ministry of finance since Monday, February 6, 2023. I have already indicated in my press release, Mr. Speaker dated 14th February 2023 that government will honour their coupons, payments and maturing principals like all government bonds in line with government fiscal commitment,” he stated.
Mr. Ofori-Atta also informed the lawmaking chamber that the government in partnership with developing partners has started the process to establish the financial stability fund to provide liquidity and solvency support to Banks, pension funds, insurance companies, fund managers and collective investment schemes to ensure that they are able to meet their obligations to their clients.
The government on Tuesday, January 14, 2023, closed the Domestic Debt Exchange Programme with over 80 per cent participation of eligible bondholders.
The voluntary programme seeks to tackle the current economic crisis, bring back macroeconomic stability and guarantee sustainable growth.
This comes after five deadline extensions as various groups sought exemptions or improved terms to participate.
