The Government of Ghana has officially announced the payments of outstanding arrears deficit of members of the individual Bondholders’ forum.
The Finance ministry of GHANA released a statement dated 10 July,2023 indicating the payments of all due coupons and principals up to June 19,2023 and instructions for coupons payments until July 10,2023 have been issued out.
However, Government is securing a constructive discussions with the leadership of the Coalition Of Individual Bondholders’ Groups (CIBG). The Finance ministry is still optimistic in implementing the terms of the Memorandum Of Understanding (MOU) which was reached with Bondholders’.
Further, Government has successfully fulfilled all the arrears of coupons for bonds maturing by 31 May,2023 including coupons which are due from June 1,2023 in line with terms stipulated in the Memorandum Of Understanding (MOU).
The group, made up of the Ghana Individual Bondholders Forum and the Individual Bondholders Association of Ghana, had earlier lamented that the government had failed to honour a Memorandum of Understanding meant to guide the agreed payment plan.
The group had warned that it will picket each day from today, July 11 till its grievances were addressed, but the decision has been reversed.
“Victory has been brought to our doors with Government announcing at 11:40 pm yesterday of its payment of all outstanding principals and coupons and a commitment to honour the MoU of 16th May 2023.”
“Considering this development, the joint steering committee of the IBF and IBHAG has decided to suspend the march and picketing unless the Government breaches its commitment again. We remain indeed angry, but we choose to exercise extreme self-control, provided that the Government continues to fulfil its obligations promptly as agreed”, the group said in a statement.