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The government has resolved the payment of all outstanding debts owed to members of the Individual Bondholders’ Forum.
As per an announcement by the Ministry of Finance on Monday, all due coupons and principles until June 19 have been successfully paid, and orders for coupon payments up to July 10, 2023, have been issued.
The government has emphasized its commitment to maintaining ongoing and constructive communication with the Coalition of Individual Bondholders Groups (CIBG) leadership. It has restated its dedication to fulfilling the terms outlined in the Memorandum of Understanding (MOU).
Previously, CIBG members, including the Ghana Individual Bondholders Forum and the Individual Bondholders Association of Ghana, had threatened to stage a protest at the Ministry of Finance, demanding the settlement of outstanding principals and coupons.
Their dissatisfaction stemmed from the government’s failure to adhere to the payment schedule specified in the MOU.
However, by the MOU’s conditions, the government has made all overdue coupon payments for bonds maturing by May 31, 2023, and the coupons are due on June 1, 2023.
“The Ministry of Finance expresses gratitude to all bondholders for their unwavering support during this challenging period of limited liquidity. The government remains confident that through collaborative efforts with all stakeholders, we will restore macroeconomic stability, achieve inclusive economic growth, and transform the Republic,” stated the Ministry of Finance.
Meanwhile, the Coalition of Individual Bondholders Groups members have canceled their planned protest at the Ministry of Finance following resolving their demands for payment of outstanding principals and coupons.
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Source: Omanghana.com
