A group calling itself the Ghana Individual Bond Holders Forum has called on all those holding existing government bonds not to sign up for the domestic debt exchange (DDE).
“If you intend to optimise your investments, maintain your superior original/old bonds. Hence, do not sign up to the DDE,” the group has stated in a set of recommendations to individuals and collective investment schemes.
The group have told those holding government bonds not to harbour any form of fear of being punished for rejecting the DDE.
“The law is in your favour and the Minister of Finance has been categorical in affirming your right by stating that he will honour obligations under the old bonds and will not undertake any action to punish individuals who reject the DDE,” the group said.
They howeve stated that those who feel compelled to support the DDE programme for other reasons not hesitate to sign on to the DDE.
“To support the turnaround of the economy, we encourage all not to lose confidence in Ghana’s financial system. The continuous investments and savings of everyone is required to spur the growth of our economy.
“We urge every citizen to file their taxes and honestly pay up all obligations due. We all owe it to Mother Ghana to make things work,” the group said in a release signed by Senyo K. Hosi, one of the Conveners of the group.
Other listed conveners are David Tetteh, Thomas Manu, Yaw Owusu-Brefo, Philip Amoateng, Thelma Tawiah, and Franklin Cudjoe.
This was contained in a press release yesterday titled ‘DOMESTIC DEBT EXCHANGE (DDE) UPDATE AND WAY FORWARD- INDIVIDUAL BONDHOLDERS AND COLLECTIVE INVESTMENT SCHEMES’.
The release was to guide individual bondholders and collective investment scheme investors, and fund managers as the deadline for the proposed debt exchange remain set for the 31st of January 2023.
