On bonds that matured on February 6 and 13, 2023, the government says it will settle the outstanding coupon and principal in two days.
The procedures to resolve payments of the unpaid bonds began on Monday, March 13, 2023, according to a statement released by the Finance Ministry on behalf of the government on Tuesday.
According to the Minister of Finance, the government is “pleased to announce that processes to settle payments on outstanding bonds commenced yesterday, 13th March 2023.”
“Holders of the afore-listed bonds should, therefore, expect to receive their payments within the next 48 hours” the statement added.
The minister added that payment deadlines for upcoming maturities would be disclosed as soon as processing was complete.
Following threats from some pensioner bondholders and other individual bondholder bodies to take different legal action if their coupons were not paid on time, the ministry issued a statement.
Pension creditors threaten: “We won’t protest MoF any more because we don’t have time to go to court.”
Pensioners who purchased bonds from the government but have yet to receive their coupons have vowed to protest the ministry of finance once more if they are not paid within 48 hours.
Read the statement from the Ministry of Finance below: