Senyo Hosi clarifies position on participation in DDE
Convener of the Ghana Individual Bondholders Forum (IBF), Senyo Hosi, has clarified his position on the participation of the Domestic Debt Exchange (DDE) by bondholders.
In a recent interview on Joy FM’s News File, Mr Hosi, explained the Forum’s position and provided clarity on some of the misconceptions surrounding their advocacy.
According to Mr. Hosi, the IBF has always maintained that individuals should not sign up for the DDE and that not participating in the program yields the same effect as total exemption.
He also explained that the revised policy offer granted to individual bondholders by the Finance Minister on January 31st, which allowed for voluntary non-participation, was what he referred to as “VOLUNTARY VOLUNTARY”.
Mr. Hosi clarified that he distinguished this from the initial threat of punishment for non-participation, which he referred to as “VOLUNTARY BY-FORCE”.
He further explained that expecting the government to change its position on the deadline day was impractical, and the IBF’s focus was on educating people not to sign up for the DDE.
Regarding the recent picketing by the Pensioners Forum, Mr. Hosi clarified that he did not call the action useless and ignorant but believed that picketing should be focused on realizable outcomes.
He also stated that he supported picketing for the payment of bond obligations due when delayed.
He further emphasized that the IBF’s focus was on advocating for and securing the investment interests of their membership, and he was not driven by any personal vendetta or political agenda.
Adding that, the IBF would continue to protect the legitimate interests of those who trusted in their advocacy.
