The Individual Bondholders Association of Ghana (IBHAG) has slammed the Finance Minister for defaulting on the payment of maturities and coupons for February 2023 as earlier agreed.
In a strongly worded statement, IBHAG called on the Finance Minister to clarify this apparent contradiction adding that their technical and legal teams are assessing the memorandum and will advise on its implications.
“The Individual Bond Holders Association of Ghana (IBHAG) has noted with concern the contents of the final memorandum from the Ministry of Finance on the Domestic Debt Exchange (DDE). We are astounded to learn of the government’s intention to default on the payment of the February 6, 2023 maturities and coupons, as contained in the memorandum.
“This is contrary to our engagement with the Finance Minister and his assurance that individual bondholders are free not to participate in the DDE. He further promised that government will honour the old bonds – coupons and maturity – as they fall due.
Source:Mybrytfmonline.com/Kwabena Nyarko Abronoma
