Domestic Debt Exchange: Government exempts all pensioners who didn’t participate in programme

The government has exempted all pensioners who didn’t participate in the Domestic Debt Exchange programme (DDEP).

According to the Minister of Finance, Ken Ofori-Atta, all pensioners who failed to tender their old bonds for new ones will be exempted from the DDEP.

In an address to parliament on the state of the Domestic Debt Exchange Programme on Thursday, February 16, 2022, Mr Ofori-Atta urged them not to worry over the future of their bonds since all their coupons and principals will be honoured when maturity is due.

He also added that he has officially notified the pensioner bondholders who did not sign onto the Programme of their exemption from the exercise.

“Government remains committed to the wellbeing and dignity of our senior citizens and pensioners. Indeed, it has personally caused me great distress as a number of them have picketed at the premises of the Ministry of Finance since Monday, February 6, 2023. As I have already indicated in my press release dated February 14, 2023, the government will honour their coupon payments and maturing principals, like all government bonds, in line with the government’s fiscal commitments.…all pensioners who didn’t participate in the debt exchange are exempted,” Ofori-Atta said.

The Pensioner’s bondholders have over the last few weeks been picketing demanding total exemption from the  Domestic Debt Exchange Programme.