Individual Bondholders to picket at Finance Ministry on July 11 over unpaid coupons

Members of the Coalition of Individual Bondholders Groups, will on Tuesday, July 11, picket at the premises of the Finance Ministry, to demand payments of their outstanding principals and coupons.

The group, made up of the Ghana Individual Bondholders Forum and the Individual Bondholders Association of Ghana, lament that government has failed to honour a Memorandum of Understanding meant to guide the agreed payment plan.

A statement issued by the group said, “We wish to bring to the notice of our joint membership, all individual bondholders, their sympathisers, dependants and the general public that effective Tuesday 11th July 2023, we shall commence picketing at the Ministry of Finance to demand among other things the following; Payment of outstanding principals and coupons. Immediate implementation of the agreement reached and captured in the Memorandum of Understanding (MoU) dated 16th May 2023 and signed between the Coalition of Individual Bondholders Groups and the Ministry of Finance on behalf of Government”.

The group further warns that it will “picket each day from the 11th of July 2023 till the grievances of the lives at stake are addressed”.

In an interview with Citi News, Convener for the Ghana Individual Bondholders Forum, Senyo Hosi, said the government’s failure to pay their bonds has bestowed untold hardships on their members.

“Many people have lost their jobs from the banking crisis to all the challenges of the economic downturn. People have to live on their savings and access their savings.”

“The place that was supposed to be the safest, today has turned out to be otherwise. A state that was supposed to pursue the interest of its people cannot neglect the interest of its people the way government is currently handling affairs,” he complained.