In a statement released by the Finance Ministry, confirms that the government has completed the settlement of all outstanding arrears to members of the Individual Bondholders’ Forum.
The payment includes all coupons and principals that were due up to June 19, and instructions for the payment of coupons until July 10, 2023, have been dispatched.
The government also expressed its commitment to maintaining continuous and constructive engagement with the leadership of the Coalition of Individual Bondholders Groups (CIBG).
They emphasized their dedication to implementing the terms outlined in the Memorandum of Understanding (MOU).
Previously, the CIBG, consisting of the Ghana Individual Bondholders Forum and the Individual Bondholders Association of Ghana, had threatened to stage a protest at the Finance Ministry, demanding the payment of outstanding principals and coupons.
They expressed disappointment in the government’s failure to uphold the agreed payment plan specified in the MOU.
However, the government has fulfilled its commitment by paying all arrears on coupons for bonds maturing by May 31, 2023, as well as coupons falling due from June 1, 2023, in accordance with the terms of the MOU.
“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.