Professor Godfred Alufar Bokpin, a Financial Economist at the University of Ghana (UG) has criticized the government for not treating “senior citizens” well as far as the debt exchange programme is concerned.
The government late in December last year announced an amendment to the initial Domestic Debt Exchange programme (DDEP), under which individual bondholders are being asked to submit to a “voluntary” exchange of their domestic bonds for new bonds.
Individual Bondholders’ Forum (IBF), a voluntary group of individual bondholders have meanwhile kicked against this.
Pensioner Bondholders Forum has petitioned government to exempt all pensioners holding sovereign Bonds from the programme.
Convener of the group, Dr. Adu Anane Antwi speaking in an interview on Peace FM’s morning show ‘Kokrokoo’ lamented over the conditions of pensioners.
“We have no regular source of income to support us in terms of our feeding, buying regular medications, paying medical bills and meeting other critical expenses. Most of us have made investments in Government of Ghana securities with the expectation that the coupons will supplement the meagre pensions we receive through the Tier One Pensions Scheme under the Social Security and National Insurance Trust (SSNIT),” he explained.