16% of pensioners signed up for DDEP - Ken Ofori-Atta

Ken Ofori-Atta, Minister of Finance, has said about 15 to 16 per cent of pensioners have exchanged their bonds for new ones under the Domestic Debt Exchange Programme (DDEP).

Despite the reluctance of most pensioners to tender, the Minister said government would honour its obligations in servicing old bonds.

“I am a little unclear as to exactly what the problem is. My issue is that now you have very little of the old bond in the system. Which means that in the event of a personal crisis, your ability to trade that paper is highly diminished,” he said.

Mr Ofori-Atta made the remarks when he had a third meeting with Pensioner Bondholders Forum since they started picketing the premises of the Ministry of Finance.

At the end of a closed-door meeting that lasted about 30 minutes, Dr Adu Anane Antwi, Convener of the Forum, in an interview said that the Minister had agreed to lay before President Nana Addo Dankwa Akufo-Addo, their grievances for redress.