RE: Eurobond investors forgive Ghana's $5 billion debt

Pensioner Eurobond holders in Ghana have read the article referenced above and others like it with much dismay.

We have followed press releases on the Eurobond restructuring keenly, hoping to hear a mention of the proportionately small group of Ghanaian pensioners who hold Eurobonds. Sadly there has not been a hint that our Government recognises that such a group exists.

All of Government's negotiations have been with international and commercial bondholders who are well able to tolerate the draconian 37% haircut, highly reduced interest rates and severely lengthened maturity dates of up to 10 years and beyond of the new restructured Eurobonds.

No consideration whatsoever has been taken of individuals who invested in these bonds, hoping to live off the returns during our retirement years and be financially self-reliant in our old age.

We, the affected pensioners, write to express our deep disappointment and frustration with this turn of events; as numerous letters submitted to the Minister to engage us on the matter did not receive any response. At our ages, and being on retirement, it is clear that the 37% haircut, reduced interest rates and longer tenor will affect us adversely, resulting in significant financial losses which we can hardly afford. Not to mention our recurring medical expenses. In fact, the past 2 years of zero interest payments has already led to serious hardships for us.

As pensioners, our numbers are small, and our plea to be exempted from this burden has fallen on deaf ears. We urge the government to reconsider our exemption, taking into account our limited financial resources and dependence on these investments for our livelihood.

The Minister's call for bondholders to accept the terms reached in the restructuring of the $13.1 billion owed Eurobond holders cannot be applied to us, given the severe impact on vulnerable groups like ours. We request that the government engage with us to find alternative solutions that do not compromise our financial security.

We implore the media and the public to take note of our plight and support our call for a more equitable approach to this debt restructuring.

Key Request:

- Exemption from Eurobond restructuring_ for pensioners and vulnerable groups

- Alternative solutions_ that do not compromise our financial security

- Meaningful engagement with the government to address our concerns.

We have had to resort to the media to highlight our plight because previous attempts to have the Finance Minister engage with us have proved futile.