No need to scream or picket over DDEP, self exempt now – Senyo Hosi

The Convener of the Individual Bondholders Forum (IBF), Senyo Hosi, says individual and pensioner bondholders have the sole responsibility to exempt themselves from the government’s Domestic Debt Exchange Programme (DDEP).

Mr. Hosi noted that it’s needless for the individual bondholders to scream or picket when they can self-exempt from the programme.

He was reacting to remarks made by former Chief Justice Sophia Akuffo who on January 10, 2023, joined a group of pensioners to picket at the Finance Ministry, to demand their exemption from the DDEP.

The former Chief Justice described the DDEP as “sheer wickedness and outright disrespect to the elderly who have sacrificed their lives for the development of the nation.”

But speaking to Citi News, Mr. Hosi asserted, “I can relate to her concerns. It’s unfair, I’m equally concerned that someone of her status has very little confidence in the one who is family, and then also someone she has worked with for the past few years”.

He stressed, “I sometimes get lost as to what the pensioners are looking for. We are looking for a total exemption, the Finance Minister, Ken Ofori-Atta has categorically said we can self-exempt. So what exactly are we looking for again from the Finance Minister? You have the decision to choose, I think individuals and pensioners have the option to stay out or not. If the deal doesn’t work for you, exempt, if it does fine. I don’t think picketing, shouting and screaming will solve that problem. I will encourage all pensioners to self exempt, there’s no need to scream, self-exempt now”.

Government extended the window for bondholders to complete tender processes as the DDEP elapses today, February 10, 2023.

The extension from the February 7 deadline was to create a window for the bondholders who experienced technical glitches to complete the online processes for tendering their bonds.

The Ministry of Finance says it is receiving the needed response from various stakeholders and individuals after it opened a three-day administrative window

The Ministry earlier indicated that over 50 percent of bondholders have subscribed so far and is hopeful that the decisive steps adopted by the government will yield the necessary objectives.