BY : DARI KWABENA MATHEW (+233555395925)
Convener of Pensioner Bondholders Forum, Dr Adu Anane has called on Finance Minister, Ken Ofori Atta, to come clear with his contribution to the domestic debt exchange programme (DDEP) before demanding pensioner bondholders sacrifice their bonds.
According to Dr. Adu Anane, until the Minister explains his contribution to the programme, the plea “Boa Me Na Me Mboa Wo” remains unjustified.
The Finance Minister in his briefing on Monday appealed to pensioners bondholders and others to support the government to help them by accepting what had been offered.
Ken Ofori Atta further added that although the government is not oblivious to the reduced benefits in their bonds, they should bear it just for the purposes of the domestic debt restructuring.
“Government has evaluated all bonds and realised some have an average coupon rate of 18.5 percent of which some will reach maturity beyond five years, but we all are aware of the current economic condition of the country and these bonds could run at zero percent should we not secure IMF deal,” the Minister said.
The Minister further added that instead of maturing bonds running at zero percent interest rate, government has decided to pay 15 percent of the supposed 18 percent which it cannot meet.
But according to convener of the Pensioner Bondholders Forum, livelihoods of pensioners are dependant on bond investment in that anything that affects those bonds will push pensioners into early graves.
