DDE: IBF urges members not to sign up to govt’s programme as deadline ends today
Senyo Hosi, Convener, IBF
The Individual Bondholders Forum (IBF) has urged its members not to sign up to the government’s Domestic Debt Exchange programme if they intend to maintain their original bonds as the deadline expires today, January 31, 2023.
According to IBF, its members could exempt themselves without any punitive actions by government.
The group says this is due to the government’s assurance to honour its obligations to individuals who opt to retain their original bonds during their meeting on Friday, January 27.
“We welcome the Minister’s affirmation of the rights of individual bondholders to have the benefits of their current investment fully honoured without discrimination or punitive actions against non-DDE individual investors.
“This, in effect, presents individuals with a self-exemption option which bears no negative implications as far as government’s payment obligations are concerned,” a statement signed by the Convener of Forum, Senyo Hosi said on Monday, January 30.
He urged his members not to sign up for the debt exchange if they’ve decided to maintain their original bonds.
The statement however, said, “If you feel compelled to support the DDE programme for other reasons, please, do not hesitate to sign on to the DDE.”
The statement emphasized that members should not fear being punished for rejecting the debt exchange programme.
“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.”
“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.”