The payment of all outstanding arrears owing to participants in the Individual Bondholders’ Forum has been officially certified by the government.
All coupons and principal due through June 19 have been paid, according to a statement released by the Finance Ministry on Monday.
Additionally, orders for paying coupons due until July 10, 2023, have been distributed.
The Government further assured all bondholders of its determination to carry out the conditions of the Memorandum of Understanding (MOU) and stressed its commitment to ongoing, fruitful communication with the Coalition of Individual Bondholder Groups (CIBG) leadership.
Members of the CIBG, which consists of the Individual Bondholders Association of Ghana and the Ghana Individual Bondholders Forum, previously threatened to picket the Finance Ministry in order to demand the payment of unpaid principal and coupons.
They voiced dissatisfaction that the government had ignored the MOU’s specified payment schedule.
However, the government has complied with the MOU’s requirements by paying all outstanding coupons for bonds that will mature on May 31, 2023, and coupons that will become 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.
