Pensioner Bondholders Forum to picket Parliament tomorrow

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The Pensioner Bondholders Forum has announced that on February 14, when Mr. Ken Ofori-Atta, the minister of finance, appears before the House’s Business Committee, it will be present to witness proceedings.

The Domestic Debt Exchange Program (DDEP), which targets the bond holdings of retirees, was announced by the government after Speaker of the House Mr. Alban Bagbin instructed the Committee to call the Minister to address the House.

On the fourth day of the picketing of the Ministry of Finance premises, Dr. Adu Anane Antwi, the Convener of the Forum, made this claim in an interview with the media.

“We will be at Parliament, not to picket though, because we don’t have any issue with them (Members of Parliament). We will sit at the public gallery to listen and observe proceedings” he stated

Pensioner Bondholders began protesting at the Ministry of Finance on Monday, February 5th, calling for complete exclusion from the Domestic Debt Exchange Program (DDEP).

In accordance with the plans, the government is recommending a swap in which bonds with a 12 to 15-year maturity might be exchanged for ones with a 5-year maturity and a return on investment that would be decreased from an average of 18.5 to 15%.

Pensioners, however, are adamantly opposed to the concept, claiming that the exchange scheme would harm their ability to support themselves and that their plans for their retirement years were based on the income from such bond investments.


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