The Finance Minister, Ken Ofori-Atta has urged the Board of Trustees of pensions funds to allow for pension funds to be included in the government’s new proposed debt restructuring offer.
The Minister in a signed release explained that the new proposal is aimed at alleviating the cash constraints on the government in the coming years, while fully compensating the Pension Funds for the value of their current holdings.
This comes after organised Labour rejected the inclusion of pension funds in the Domestic Debt Exchange programme.
According to the release, the new proposal has been “crafted to facilitate the execution of the MoU, addressing the Government financial needs while maintaining the value of the pension funds.”
Breaking down the new offer, the statement noted that “the proposed offer entails exchanging your current holdings of Treasury Bonds, ESLA bonds and Daakye Bonds for a menu of the currently outstanding New Bonds (issued in February 2023 and maturing in 2027 and 2028 respectively.
Source:Mybrytfmonline.com/Kwabena Nyarko Abronoma
