Pensioners in Ghana have been picketing at the Ministry of Finance in protest against the inclusion of their pension funds in the Domestic Debt Exchange programME (DDEP) which the government of Ghana is seeking to carry through with the International Monetary Fund (IMF).
In an interview with Johnnie Hughes on 3FM Sunrise Morning Show, Madam Kokui Adzo Adu one of the Pension Bondholders expressed her displeasure over how some of the pensioners out of frustration and the quest to protect their pension bonds have been compelled to disclose their private medical issues to the public.
“Eighty-one year old doctor who has retired and must tell the whole world he has a kidney disease. Why must he? Before this, probably his closest family members didn’t know about his medical condition; people’s private business has been made public. It is sad that people’s health conditions are put on the internet, and broadcast to the whole world. Our private health issues now to public this manner is not necessary,” she stressed.
The Minister of Finance Ken Ofori-Atta announced the intention of the government of Ghana to embark on a Domestic Debt Exchange Programme with the IMF at a press conference in Accra on Sunday December 4, 2023.
The finance minister disclosed that under the programme; domestic bondholders will be asked to exchange their instruments for new ones whereas existing domestic bonds as of 1st December will be exchanged for a set of four new bonds maturing in 2027, 2029, and 2037.
He added that annual coupons on all of these bonds will be set at 0 % in 2023, 5% in 2024 and 10% from 2025 until maturity.
The Government of Ghana announced an amendment of the terms of the Domestic Exchange and a further extension of the expiration date of its Domestic Debt Exchange to 16 January 2023 but had to extend it to February 14, 2023 and again to February 21, 2023 to offer sufficient time to settle New Bonds efficiently.
In another breadth, convener of the Individual Bondholders Forum, Martin Kpebu has hinted that the forum notified the Police on Tuesday, February 14 of their intention to commence picketing at the Finance Ministry from Monday, February 20, 2023.
Source: 3news.com|Ghana