Debt Exchange: Individual Bondholders Lament Uncertainties; Say They Cannot Survive If They Are Included

• Individual bondholders in the country are kicking against their inclusion in the Domestic Debt Exchange programme
• They are lamenting the uncertainties that they will be plunged into if the government proceeds with the programme in its current form
• They thus want their investments to be excluded from the ongoing debt exchange programme

Ghana’s effort to quickly negotiate the Domestic Debt Exchange programme with bondholders in the country has suffered another setback.

The government earlier included pension funds in the programme but had to quickly withdraw it after labour unions threatened a massive industrial action.

Debt Exchange Programme: Individual Bondholders Rally Support To Reject Deal In Its Current Form

The latest to add their voices of dissent to the programme is individual bondholders in the country.

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Under an umbrella body, the Ghana Individual Bondholders Forum (IBF), the group has rallied all individual bondholders to reject the deal in its current form.

A statement signed by the convener of the group, Senyo Hosi, also called on indirect bondholders such as investors in mutual funds, cash trusts, and balance funds to inform their fund managers not to accept the DDE.

Individual Bondholders Vow To Fight Their Inclusion In Debt Exchange Programme

One such bondholder who spoke on Accra-based Joy FM on Wednesday, January 11, 2023, said they will fight their inclusion in the debt exchange programme as it will deny them and their families a means of survival.

"I am 65 years, assuming they spread my bonds for 15 years, I will be 80 years and very few men in my family cross 80, am I going to access my capital in my grave?" a bondholder who wanted to remain anonymous said.

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That comment has elicited emotional reactions from netizens, some of which have been sampled by YEN.com.gh.

Immaculate Immaculate:

This whole thing is not funny anymore, please empathize with us hmmmm

Katarina Rostova:

If we have any sense left in our brains as citizens of this country… The NPP as a party should never come nowhere near the sit of government… Not even then descendants…

Majeed Yakubu:

The reality is astoundingly scarier!

Maame Yaa Yeboaa Asiama

This is not funny at all

Abdul-wahid Busih

And those who created the mess are enjoying the public purse like Arabian princes

Prince Awuku Spanner

Whaaaaaat am sad Ken ofori atta should return the money he earn in the bonds

Queen Victoria Baaba Adusa-Amankwa

Yet we want to build the cathedral and worship God When people are suffering and in pain The bible how do we read it and do we understand?

Domestic Debt Exchange: Minority In Parliament Vows To Resist Attempts To Restructure Ghana’s Debt

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Earlier, YEN.com.gh reported that the minority in parliament says it will employ all legal means available to block the proposed Domestic Debt Exchange programme announced by the minister of finance, Ken Ofori-Atta.

According to the minority leader, Haruna Iddrisu, his side cannot support the policy in its current form.

Source: YEN.com.gh