• Advertise with Us
  • About Us
Wednesday, July 16, 2025
  • Login
  • Home
  • Politics
  • Business
  • General News
  • Entertainment
  • Sports
  • Tech
  • Africa
  • World
  • Health
No Result
View All Result
  • Home
  • Politics
  • Business
  • General News
  • Entertainment
  • Sports
  • Tech
  • Africa
  • World
  • Health
No Result
View All Result
No Result
View All Result
Home Business

Exempt all retirees government bondholders from Debt Exchange Programme – Pensioners

admin by admin
February 8, 2023
in Business
0
Exempt all retirees government bondholders from Debt Exchange Programme – Pensioners
0
SHARES
7
VIEWS
Share on FacebookShare on TwitterShare on WhatsAppShare on Telegram

Pensioner Bondholders Forum, a Group of pensioners, has called on the government to exempt all retirees government bondholders from the Domestic Debt Exchange Programme (DDEP).  

Dr Adu A. Antwi, a pensioner and Convener of the Forum, said if the pensioners bonds were not exempted, it would have adverse effects on their already challenging lives.

READ ALSO

Use data from BoG to make cedi projections, not predictions from ‘Zabarma’ – Governor Asiama

Concerned Timber Operators Demand Reset of Forestry Commission…Say Bad policies are collapsing the industry.

Dr Antwi made the call at a press conference during the Pensioner Bondholders Forum, a forum for the protection of pensioners investment.  

Government last year announced Ghana’s Domestic Debt Exchange Programme where domestic bondholders were asked to exchange their instrument for new ones.  

is=1&rsz=%7C%7CEebr%7C&abl=CS&pfx=0&fu=128&bc=31&ifi=1&uci=a!1&btvi=1&fsb=1&xpc=jvRWgf41q3&p=https%3A//www.ghanabusinessnews.com&dtd=M

As a result, existing domestic bonds as of December 1, 2022, were to be exchanged for a set of four new bonds maturing in 2027, 2029, 2032 and 2037.

The annual coupon on all these new bonds will be set at 0% in 2023, 5% in 2024 and 10% from 2025 until maturity. Coupon payments will be semi-annual.

“Pensioners have no regular source of income to support us in terms of our feeding, buying regular medications, paying medical bills and meeting other critical expenses and we need these investments as our lifeblood,” he said.  

Dr Antwi, who is also a banker, said their monthly pensions from Social Security and National Insurance Trust (SSNIT) had been eroded by inflation to the extent that the coupons had become their core income while waiting for the payment of their principal amount upon maturity.  

“We believe strongly that the basis for the exemption granted to Pension Funds holds good for the exemption of the investments of pensioners in government bonds from DDEP,” he said.  

Mr Philip Kwasi Buabeng, a member of the Forum, in an interview with the Ghana News Agency, said, the government seemed to have given them a “raw deal” by unilaterally deciding the fate of the bondholders.

“As pensioners we need liquidity and safety of our funds. If the government thinks that it cannot pay, it takes negotiations to do so. What is painful is that the government is asking us to apply and failure to do so means….,”the Former Principal, National Banking College, said.  

“You want to exchange my present bond to this bond that extend to 15 years. The life expectancy of the Ghanaian is 64 years, and you tell the pensioners that you are spreading the investment up to 15 years. When he gets sick where is he going to get money for medications,” he said.  

The Pensioners Bondholders Forum said it presented a petition to President Akufo-Addo and Ken Ofori Atta, the Finance Minister, for exclusion of pensioners.

Source: GNA  

Related Posts

Use data from BoG to make cedi projections, not predictions from ‘Zabarma’ – Governor Asiama
Business

Use data from BoG to make cedi projections, not predictions from ‘Zabarma’ – Governor Asiama

July 15, 2025
Concerned Timber Operators Demand Reset of Forestry Commission…Say Bad policies are collapsing the industry.
Business

Concerned Timber Operators Demand Reset of Forestry Commission…Say Bad policies are collapsing the industry.

July 14, 2025
Trade Minister Inaugurates GIPC, Ghana EXIM Bank and GSA Governing Boards
Business

Trade Minister Inaugurates GIPC, Ghana EXIM Bank and GSA Governing Boards

July 10, 2025
Energy Ministry Announces Strategic Natural Gas Supply Enhancement by ENI
Business

Energy Ministry Announces Strategic Natural Gas Supply Enhancement by ENI

July 9, 2025
MTN Ghana  Assures Customers of Resolving Data Bundle Dusruptions
Business

MTN Ghana Assures Customers of Resolving Data Bundle Dusruptions

July 2, 2025
ADB Announces New Tagline “Beyond Banking” as Part of 60th Anniversary Celebration
Business

ADB Announces New Tagline “Beyond Banking” as Part of 60th Anniversary Celebration

July 1, 2025
Next Post
Opinion | The Costs of a Long War in Ukraine

Opinion | The Costs of a Long War in Ukraine

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

EDITOR'S PICK

  • All
  • Politics
No need to panic over Zoomlion-YEA controversy – Parliament’s Environment Committee Chair

No need to panic over Zoomlion-YEA controversy – Parliament’s Environment Committee Chair

April 28, 2025
Ridge Hospital: Axis Pharmacy pops up over alleged extortion of patients

Ridge Hospital: Axis Pharmacy pops up over alleged extortion of patients

April 8, 2025
National Cardiothoracic Centre experiencing higher demand amidst funding and space challenges

National Cardiothoracic Centre experiencing higher demand amidst funding and space challenges

June 1, 2025
CHRAJ Partners GJA for Mutual Benefit

CHRAJ Partners GJA for Mutual Benefit

May 6, 2023

About SenaRadio Online

SenaRadio Online is a Private News Portal based in capital of Ghana, Accra established in the year 2019.

SenaRadioonline.com is Ghana's leading news website that delivers high quality innovative, alternative news that challenges the status quo.

Follow us

Categories

  • Africa
  • Business
  • Entertainment
  • General News
  • Health
  • Opinion
  • Politics
  • Sports
  • Tech
  • Uncategorized
  • World

Recent Posts

  • Fire outbreak at Madina Ritz Junction involving multiple Wooden Structures
  • CBC/Sahel Peace Initiative (SPI) National Forum on Youth Unemployment Ends with a Call for Values in the Curriculum
  • Use data from BoG to make cedi projections, not predictions from ‘Zabarma’ – Governor Asiama
  • Mahama Cuts Fuel Allowance/Allocation to Appointees to restore the Economy

Gallery

© 2023 Sena Radio Online -All Rights Reserved Site Powered by CodeArthur

  • Contact Us
  • Advertise with Us
No Result
View All Result
  • Home
  • Politics
  • Business
  • General News
  • Entertainment
  • Sports
  • Tech
  • Africa
  • World
  • Health

© 2023 Sena Radio Online -All Rights Reserved Site Powered by CodeArthur

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In