IBF, IBHAG kickstarts #OccupyFinance protest on Tuesday
In a show of frustration and determination, the Individual Bondholders Forum (IBF) and the Individual Bondholders Association of Ghana (IBHAG) have announced the commencement of a protest under the banner of #OccupyFinance.
The demonstration, set to take place on Tuesday, July 11, 2023, aims to address three pressing objectives laid out by Senyo Hosi, the Convener of the IBF.
Foremost among the bondholders’ demands is the urgent need to secure payment of outstanding principals.
Having engaged in numerous discussions with the Finance Ministry, the bondholders express deep disappointment at the lack of action, as promises of coupon and principal payments remain unfulfilled.
The IBF and IBHAG are resolute in their stance, demanding the government honor its commitments and provide the much-needed financial relief to bondholders who have been awaiting their rightful coupons and principals.
Additionally, the bondholders call for the implementation of the debt re-profiling offer (DRO), crafted jointly by the IBF and IBHAG.
Despite the proposal’s potential to alleviate the financial burden faced by bondholders, the Finance Ministry has yet to draft and enact this crucial plan.
Through the #OccupyFinance protest, bondholders seek to compel the government into action and secure the execution of the proposed debt re-profiling offer, which they believe will significantly alleviate their plight.
Beyond their financial grievances, the bondholders aim to shed light on the real-life consequences of the government’s inaction. Through the protest, they plan to let the government connect with the lives at stake and recognize the profound impact of the underserved hardships endured by bondholders and their dependents.
By taking to the streets and picketing at the Finance Ministry’s forecourt from 7:30 am to 9 am, the bondholders hope to amplify their message and gain the attention of policymakers.
Senyo Hosi, rallying fellow bondholders via a virtual meeting on Sunday, July 9, 2023, expressed the collective sentiment of the movement.
“We are now left with no option than to do this,” he lamented. “We didn’t want to do this initially, but we have no choice. It’s time for action.”
The #OccupyFinance protest, driven by the IBF and IBHAG, serves as a powerful manifestation of the growing frustration among bondholders who have endured prolonged uncertainty and financial strain.
As they converge at the Finance Ministry, bondholders seek to bring their grievances to the forefront of public attention, urging the government to address their concerns promptly and tangibly.
