Members of the Individual Bondholders Forum (IBF) have called on direct bondholders to reject and refrain from complying with the mandatory deadline imposed under government’s intended Domestic Debt Exchange Programme. The group joins a host of others seeking to reject and file class action suits against government regarding the debt exchange programme as part of the debt restructuring exercise mooted by the IMF bailout. A statement issued and signed by Convener of the Forum, Senyo Hosi, further wants indirect bondholders to inform their respective fund managers not to accept the proposed DDE programme. “In an unfortunate oppressive fashion, government has shown total disregard for the contractual rights of Individual bondholders and has made no effort to structure reasonable consultations with individual bondholders,” portions of the statement read. The IBF however urged labour unions to join in efforts aimed at rejecting the debt exchange programme toward the preservation of hard-earned savings invested by the Ghanaian public.

Source: GhanaWeb January 12, 2023 12:43 UTC