We'll Pay All Outstanding Domestic Coupons By April 28 - Finance Minister

The Ministry of Finance says it will pay outstanding domestic coupons to bondholders by April 28, 2023.

A statement issued by the Ministry said the decision to pay the outstanding coupons was reached during an engagement it had with the leadership of the Coalition of Individual Bondholders Groups.

The meeting centred on the timelines of payment of outstanding domestic debt obligations.

The meeting the ministry revealed was chaired by the Deputy Minister of Finance, Abena Osei-Asare.

She noted that the Ministry will go by the recommendations of the Technical Committee constituted on 18th January 2023 to clear the outstanding domestic debt obligations by April 28.

The Ministry of Finance announced the timelines in a statement dated April 14.

“Today, the Ministry of Finance engaged the representatives of the Coalition of Individual Bondholders Groups and the Pensioner Bondholders Forum. Following the meeting, significant progress has been made on the outstanding domestic debt service obligations.

The meeting chaired by the Hon. Deputy Minister, Hon. Abena Osei-Asare, MP agreed that the Joint Technical Committee constituted on 18th January, 2023 reconvenes and agrees on a pathway, towards the settlement of the outstanding debt obligations, by 28th April, 2023.

The Ministry of Finance takes this opportunity to thank the Coalition of Individual Bondholders Groups and the Pensioner Bondholders Forum for their forbearance during the Domestic Debt Exchange Programme (DDEP) and subsequent administrative processes.”