Exempt us from Domestic Debt Exchange Program – Pensioners appeal

Exempt, Us, From, Domestic, Debt, Exchange, Programme, Pensioners, Appeal

Dr. Adu Antwi Esq., Convener, Pensioners Bondholders Forum

Pensioner Bondholders have petitioned government through the finance ministry to exempt all pensioner bondholders from the ongoing domestic debt exchange program.

The government announced a rescission in its decision to include pension funds in the planned domestic debt exchange (DDE) programme, following threats by organized labour to embark on strike should their pension funds be affected by the DDE.

The revocation was followed by an announcement of the inclusion of individual bondholders in the DDE programme.

But the pensioner bondholders are calling on government to exempt pensioner bondholders from the Debt Exchange.

Addressing the media, the Pensioner Bondholder Forum says any inclusion of their bonds in the DDE defeats the purpose of exempting pension funds from the Debt Exchange.

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“We pensioners have come together to petition your office to exempt all pensioners holding government bonds as was done to pension funds from the debt exchange programme.” convener for the forum Dr. Adu Antwi said.

He added: “The basis for the exemption of pension funds was to ensure that pension incomes to would-be retirees are not impaired for them to become a burden for them when they are on retirement. We believe strongly that that basis holds good for the exemption of investments of pensioners in government bonds from the programme.”

Appealing to government, the pensioner bondholders warned of dire consequences on pensioners who are bondholders, as they don’t have alternative sources of income.

 

Source: Ghananest.com

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