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Unpaid Coupons Spark Picketing by Individual Bondholders at Finance Ministry on July 11

On Tuesday, July 11, members of the Coalition of Individual Bondholders Groups are planning to stage a protest at the Finance Ministry premises to demand the payment of their outstanding principals and coupons. The coalition comprises the Ghana Individual Bondholders Forum and the Individual Bondholders Association of Ghana, who express disappointment over the government’s failure to honor a previously agreed Memorandum of Understanding (MoU) outlining the payment plan.

In a statement issued by the coalition, they announce their intention to picket at the Ministry of Finance starting from July 11, 2023. Their demands include the payment of outstanding principals and coupons, as well as the immediate implementation of the agreed-upon terms outlined in the MoU signed on May 16, 2023, between the coalition and the Ministry of Finance on behalf of the government.

The group emphasizes that their picketing will continue each day until their grievances, which they consider a matter of life and death, are addressed.

Senyo Hosi, the Convener for the Ghana Individual Bondholders Forum, expressed the hardships faced by their members due to the government’s failure to fulfill its bond payment obligations. He highlighted the job losses resulting from the banking crisis and economic downturn, forcing individuals to rely on their savings.

Hosi criticized the government for neglecting the interests of its people, noting that the state should prioritize the well-being of its citizens rather than overlook their concerns.

wp-content/uploads/2023/07/Press-Release-Commencement-of-Picketing.pdf

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