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Report by Bernard K DADZIE
Pensioner Bondholders Forum has called on the government to review some of its expenditures and bring the levels down to create fiscal space to meet its debt obligations always.
“We trust that the government will be able to meet its obligations to all holders of government bonds, but wish to advise that given the current economic circumstances of the country, it is prudent that the government reviews some of its expenditures and bring the levels down to create fiscal space to meet its debt obligations always”, they said.
According to them, in all countries, both developed and undeveloped, older people face an array of vulnerabilities. The government has some social protection Programmes for the elderly, but these are not enough to help them with the vulnerabilities they faced.
The Pensioner Bondholders Forum is therefore appealing to Nana Akuffo Addo and its government to do more to help the elderly in society.
Addressing a Press conference in Accra on Tuesday, February 21, 2023, to thank the stakeholders who supported the forum during their picketing to seek the exclusion of all Pensioner Bondholders from the government’s Domestic Debt Exchange Programme (DDEP), Dr Adu Anane Antwi the convener of Pensioner Bondholders Forum, thanked all stakeholders for their support and words of encouragement.
The convener expressed his profound gratitude to former President John Agyekum Kufour, former President John Dramani Mahama, Speaker of Parliament, Catholic Bishops Conference, Council of State, National House of chiefs, the National Peace Council and organized labour and others for their concern and encouragement.
Dr Adu Anane Antwi, therefore, acknowledged the former Chief Justice Her Ladyship Sophia Akuffo for her kind and brave presence in their picket encouraged.
“You made us more confident in our struggles. It was a great pleasure to have you join our picketing, not once, but twice. We appreciate your interest in the well-being of the Pensioners. Your suggestions provided us with a guide to proceed more precisely for the betterment of this noble cause. We hope this kindness and cooperation will continue in the future,” he said.
According to the former Director General of the Security and Exchange Commission, the forum looks forward to remaining engaged with all stakeholders about the interest of pensioners and other holders of government securities.
He explained that the committee will serve to represent and protect the common interests of all domestic holders of government bonds and Treasury bills. It will have the following functions; to monitor compliance by the government with its debt obligations.
He further said that the committee is to offer independent advice to the government on measures and policies that must be undertaken to ensure the continued ability of the government to meet its debt obligations to domestic creditors.
“These measures are intended to increase investors’ confidence that the debt obligations will be complied with by the government, thus making the bonds and Treasury bills more valuable to the investors,” he added.
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