The Ministry of Finance has announced that payment of coupons and principals in respect of the Domestic Debt Exchange Programme (DDEP) will start on March 13, 2023.
This announcement from the Ministry comes after the government failed to honor matured bonds two weeks after the maturation.
According to a statement released by the Ministry on Monday, the statement clarified that this new date to honor matured bonds only applies to old bondholders who did not sign up for the DDEP.
The announcement comes after three individual bondholder groups besieged the premises of Ministry on Monday to demand answers as to why payment of coupons and principals which matured on February 6th and 20th February, 2023 have not been honored.
Following a meeting with the Finance Minister, the subsequent statement from the ministry which sought to give update on the Domestic Debt Exchange Program noted that “secondly, in fulfillment of the assurance given by Government to bondholders who did not tender, the Ministry is taking administrative steps to ensure that payments of coupons and principals of the old bonds resume by 13th March, 2023,”
The groups that besieged the Ministry are the Coalition of Individual Bondholders Groups made up of Pensioner Bondholders Forum, Individual Bondholders Association of Ghana and Individual Bondholders Forum.
The group gathered at the Finance Ministry on Monday, February 27, to check on the payment of coupons and principal for bondholders whose bonds had matured but whose payment had not been honoured despite government’s promise.
