Finance Minister Ken Ofori-Atta has stated that failure to secure a bailout with the International Monetary Fund (IMF) by mid-March may ground Ghana’s economy to a halt.
Addressing
Pensioner bondholders who have resisted their inclusion in a domestic debt
exchange programme on Monday, February 6, the Finance Minister pleaded with the
pensioners to accept a 3.5% cut and accept the new terms of 15% coupon rate and
5% maturity.
“We really feel
that government has listened, there is humanity to us, we are protecting the
destitute, widows and the orphans and the older people who have worked for this
nation. We are in a crisis, we cannot put our heads under the sun and pretend
that we are not.
“We need to be
mindful that we really need to be successful in going to the fund by this March
to avoid what we all experienced last year which we all don’t want to
experience again.”
Pensioners who
bought government bonds on Monday, February 6, 2023, picketed at the Finance
Ministry to press home their demands for an exemption of their bonds from the
government’s domestic debt exchange programme.
The pensioners
who are part of the Pensioner Bondholders Forum, want the government to
completely exempt them from the debt exchange. They believe the inclusion of
their bonds will negatively impact their livelihoods.
The closure of
the invitation for holders of the government’s bond to subscribe to the
programme expires today, Tuesday, February 7, 2023
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