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Government urged to convert GH¢926m payment of matured bonds to T-bills

Senyo Hosi1212121211322 Senyo Hosi, Convener of the Individual Bondholders Forum

Mon, 24 Apr 2023 Source:

The Individual Bondholders Forum (IBF) has asked the government to convert the GH¢926 million payment of the matured bonds into Treasury bills at current market rates in the event of any liquidity challenge.

The convener of the IBF, Senyo Hosi, made the statement during a virtual meeting with bondholders on Sunday, April 23, 2023.

He expressed disappointment in government's continual delay in payments of outstanding coupons and principal amounts to bondholders.

According to him, government currently owes the bondholders GH¢1.29 billion (GH¢365 million as coupons and GH¢926 million as principal), and this excludes payments owed to pensioners while it wants all outstanding coupons in cash as and when they fall due.

Presently, three coupons out of 24 coupon payments are due in the month of April 2023.

Meanwhile, the Pensioner Bondholders Forum have threatened to resume its picketing at the premises of the Ministry of Finance if government fails to pay all outstanding coupons and principals of bond investments by April 28, 2023.

This, it believes will put an end to the payment delays.

The IBF, on the other hand, have warned of another picketing at the Ministry of Finance if government does not honor payments of outstanding coupon bonds and principals by April 28, 2023, in order to stop payment delays.

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