We want total exemption from DDEP – Pensioner Bondholders reiterate

The Pensioner Bondholders Forum have reiterated its stance for the total exemption of their bonds in the government’s Domestic Debt Exchange Programme.

This comes after the group held a meeting with Finance Minister, Ken Ofori-Atta on Friday, February 10, 2023.

Following the meeting which ended inconclusively, Lead Convener of the Forum, Dr Anane Antwi, told journalists that although government insists the retirees should consider a voluntary exemption, they disagree with the stance as there is a difference between government exemption and opting out.

Dr Antwi added the pensioners however disagree with their inclusion and therefore want a total exemption from the DDEP as they vow not to sign unto the programme which only has 50 percent participation thus far.

“…Our members have looked at all options. Your main concern of tradability, they say don’t worry about tradability. They are not interested in that. They want to keep their bonds and get their coupons as they are getting. But if you exempt us, we are more assured than if we decide to opt-out. The difference between the two is what is key," he explained.

"Our plan is to converge here every working day until we hear that we have been exempted,” Dr Antwi added.

Meanwhile, the immediate past Chief Justice of Ghana, Sophia Akuffo joined her colleague pensioners to picket the Finance Ministry on Friday, February 10, 2023.

Speaking in an interview with GhanaWeb Business, she described government's move to include pensioners in the debt exchange programme as wicked, disrespectful and unlawful.

Sophia Akuffo further added that it is wrong for government, through the Ministry of Finance, to sacrifice pensioners' hard-earned monies to save the government after serving the nation.

While bemoaning the negative impact of the debt exchange programme on pensioners, the former Chief Justice stressed that it was heartbreaking to see her age mates and others older than her go through pain.

"It is very heartbreaking to see people, particularly in my age group, some are older than me, somewhat younger than me but these are all people who have worked very hard. They could have left the country when others were going. They stayed, they worked for the nation," Mrs Akuffo said.

"I find this wicked, disrespectful, I find it unlawful. I find it totally wrong, period because you don’t solve your problems by sacrificing your aged. That’s the last thing you should do especially when you don't have any services that are actually geared at the comfort and relief of the aged," she stated.

MA/FNOQ