Individual bondholders to picket at Finance Ministry demanding payment of unpaid coupons

Accusing the government of failing to honour a Memorandum of Understanding (MoU) regarding payment plans, members of the Coalition of Individual Bondholders Groups have announced their intention to picket at the Finance Ministry on July 11.

The coalition, comprising the Ghana Individual Bondholders Forum and the Individual Bondholders Association of Ghana, is demanding immediate payment of outstanding principals and coupons.

A statement released by the Ghana Individual Bondholders Forum and the Individual Bondholders Association of Ghana expressed their dissatisfaction with the government’s lack of action, stating, “Payment of some bonds has been in default for over one hundred (100) days, and it has been over fifty (50) days since agreeing on terms captured in the MoU with no implementation undertaken nor official communication on a way forward.”

The bondholders, who entrusted their savings to the government, expressed their frustration with the situation, describing the government’s conduct as condescending, insensitive, and disrespectful to its own citizens.

They emphasized the hardships faced by bondholders and their dependents, including the denial of essential medications, school fees, and the ability to support their families.

To protest this injustice, the bondholders announced their decision to picket at the Ministry of Finance daily, starting on July 11, until their grievances are addressed.

Additionally, a town hall meeting has been scheduled for July 9 to discuss the strategies and details of the picketing.

The coalition called on all bondholders, sympathizers, and dependents to join their cause and seek justice for Ghana and its citizens.

The situation remains tense as the government faces mounting pressure to respond to the demands of the individual bondholders and find a resolution to the ongoing dispute over unpaid coupons.

Source: graphic online