The government has certified the payment of all outstanding arrears owing to Individual Bondholders’ Forum members.
According to a statement made by the Finance Ministry on Monday, all coupons and principles due through June 19 have been paid, and orders for payment of coupons through July 10, 2023, have been handed out.
Furthermore, the government reminded all bondholders of its commitment to ongoing and constructive interaction with the Coalition of Individual Bondholders Groups (CIBG) leadership and emphasised its commitment to executing the conditions of the Memorandum of Understanding (MOU).
Members of the CIBG, which includes the Ghana Individual Bondholders Forum and the Individual Bondholders Association of Ghana, have previously threatened to picket outside the Finance Ministry in order to demand payment of unpaid principal and coupons.
They were disappointed by the government’s inability to follow through on the payment scheme specified in the MOU.
However, in compliance with the conditions of the MOU, the government has paid all arrears on coupons for bonds expiring by May 31, 2023, as well as payments due on June 1, 2023.
“The Ministry of Finance takes this opportunity to thank all bondholders for their continuous support during this period of tight liquidity. Government is confident that in working with all stakeholders, we shall restore macroeconomic stability, achieve inclusive economic growth, and transform the Republic”, the statement added.
