DDEP: Our bonds are tradable; we won't surrender for inferior offer - Yamson

An Investment Advisor, Harry Yamason, has described as worrying the government’s attempt to coerce bondholders to sign onto an inferior offer under the Domestic Debt Exchange Programme (DDEP)

Speaking on Starr Today with Joshua Kodjo Mensah, Mr. Yamson lashed out at the government communicators and ministers for creating a signal of uncertainty for the bondholders.

He added that their bonds are tradable and it will only take deliberate action by the government and the CST to make them untradeable.

“The government is demanding that the current bondholders surrender their bonds, their rights, their incomes to exchange for very inferior products and a very inferior offer. With no legal guarantees and is suggesting through its spokesperson and Ministers that the value will be destroyed and tradability will not be one of the value benefits that will accrue any longer.

“I think this is very unfortunate for the government to be promoting these narratives. The bonds as they currently exist are tradable instruments. There is actually no reason for them not to be tradable going forward. There is no legal reason for the bonds not to be tradable,” Mr. Yamson stated.

He continued: “If the offer by the government is so superior then the government should not be worried about what decisions individuals take as to whether to sell or buy the old bonds. The matter should be left to individuals and the government should not intervene.”

Meanwhile, Minority Leader, Cassiel Ato Forson has assured Pensioner Bondholders and others that parliament will move swiftly to address the burning issues related to the ongoing domestic debt exchange program.

Pensioner Bondholders’ meeting with Finance Minister Ken Ofori-Atta on Friday, February 10, 2023 ended inconclusively as the government insists the retirees should consider voluntary exemption.

In a tweet, the leader of the opposition frontbench said the Finance Minister is billed to appear before the House by next to deal with the concerns of investors in the debt restructuring programme.

“It is disheartening to see our dear pensioners including a former Chief Justice picketing at the MOF over the domestic debt restructuring. I wish to assure her & the rest, parliament is dragging the Finance Minister before us next week and we will represent their interest fully!” a tweet by Ato Forson said.