Pensioner bondholders vow to take action over delay in bonds payment

The Pensioner Bondholders Forum has expressed serious concerns about the failure of the government to pay coupons and matured principals of bonds held by its members.

The government through the Ministry of Finance had earlier issued a statement saying all bondholders who decided not to participate in the domestic debt exchange programme would be paid in line with the government’s fiscal commitments and that payments of coupons and principals of the old bonds would resume by March 13th, 2023.

However, the Ministry of Finance has failed to honour its promise.

The group in a release dated March 14, reiterated its lack of confidence as a result of the delay in payment of coupons and principals relating to bonds that were not tendered under the DDEP.

The leaders of various individual bondholders’ groups reportedly visited the office of the Minister to demand answers.

According to them, the Ministry of Finance has not paid the matured principal and outstanding coupons due on the old bonds despite these efforts.

The Pensioner Bondholders Forum has cautioned the Ministry of Finance to honour its promise by the close of business on Thursday, 16th March 2023, to prevent further actions from the group.