Ghana Individual Bondholders Forum urge members to reject Debt Exchange programme
A group of individual bondholders identified as the Ghana Individual Bondholders Forum (IBF), has urged its members – direct and indirect bondholders – to reject and refrain from complying with the mandatory deadline imposed under the Domestic Debt Exchange Programme [DDEP] by Government.
According to Convener of the Forum, Senyo Hosi, the DDEP in its present form, “irreversibly takes away the wealth and livelihoods of direct and indirect individual bondholders whose only crime has been to trust their government.”
In a statement issued by the IBF on January 11, 2023, the group noted that the DDEP threatens the medium- to long-term prospect and outlook of the domestic investment culture in the country.
The group has therefore advised government to open a channel of communication for immediate frank, transparent and sincere dialogue on the DDEP with the IBF with the view to seeking an effective resolution to the developing impasse and the fast-depleting confidence in the Ghanaian economy.
“We call on government to demonstrate the needed sensitivity to enable a constructive resolution in the best interest of all,” it added.
The group has also called on labour unions to join them in the fight for the preservation of hard-earned savings invested by the Ghanaian public which also includes their members, further adding “we also look forward to partnering likeminded groups and organizations to achieve our joint goals”.
Investments made by members of the IBF are in Government of Ghana Local Cedi Bonds, Government of Ghana Local US Dollar Bonds, ESLA Bonds, Daakye Bonds, Ghana Eurobonds and Collective Investment Schemes.
