Pay us our matured coupons within 48-hrs – Individual Bondholders to Gov’t

The Coalition of Individual Bondholders has given the government a 48-hour ultimatum to pay all matured principal and outstanding coupons due on their existing bonds.

According to the coalition made up of the Ghana Individual Bondholders Forum and Individual Bondholders Association of Ghana, the coupon and principal payments have not been paid despite written press releases confirming the resumption of payments on 13th March 2023.

“It is most unfortunate that the ministry continues to have absolute disregard for its creditors, in this case, Individual bondholders, despite prior meetings held in which we stated the need for communication,” a statement from the coalition said.

They also accused the Securities and Exchange Commission (SEC) and Ghana Fixed Income Market of the Ghana Stock Exchange of maintaining a “loud silence” on the matter.

“The little confidence remaining in the markets as a result of assurances from the Ministry of Finance is fading away under the full watch of the very institutions set up to protect it.

“We are giving a 48-hour ultimatum to the Ministry of Finance to honour its word to pay all matured principal and outstanding coupons due on the existing bonds issued by the Government of Ghana. We call on the Securities and Exchange Commission and the Ghana Stock Exchange to enforce the rules of full disclosure required by all issuers including the Government of Ghana,” the statement added.

Below is the full statement