All pensioners who didn’t participate in DDEP are exempted – Ofori-Atta

The Finance Minister, Ken Ofori-Atta, has confirmed that all pensioner bondholders who refused to sign up for the Domestic Debt Exchange Programme(DDEP) have been exempted from the programme.

He announced this during a briefing to parliament on the DDEP on Thursday, February 16.

Mr Ofori-Atta assured the pensioners that all their coupons will be honoured upon maturity.

“Government remains committed to the wellbeing of our senior citizens. It has caused me great distress that a number of them have picketed at the premises of the Finance Ministry since Monday, I have said that government will honour their coupons…all pensioners who didn’t participate in the debt exchange are exempted.”

The bondholders have been picketing at the Finance Ministry since Monday, February 6, demanding a total exemption from the Domestic Debt Exchange Programme.

They planned to embark on this exercise until they were exempted from the Programme.

They lamented that the government had turned a deaf ear to the request for an exemption. They believed the inclusion of their bonds will negatively impact their livelihoods.

Meanwhile, the Finance Minister expressed surprise at the pensioners’ continuous picketing at the ministry.

“Really, there is no reason for us to be sitting here because that assurance has been given on paper. I want to know what it is that you are afraid of or that you think will not happen.

“My issue is that now you have very little of the old bonds existing. This means that, in the event of a crisis, your ability to trade your papers is diminished. But that is the choice you made,” he indicated.