CJ Sophia Akuffo Pickets With Bondholders At Finance Ministry

Sophia Akuffo

The former Chief Justice of Ghana, Sophia Abena Akuffo, has joined the protest by the retirees picketing at the Ministry of Finance in Accra over the governments domestic debt exchange programme.

Justice Akuffo Friday morning joined the pensioners to demand exclusion of their investments from the domestic debt exchange programme.

The government has proposed a 15 percent coupon rate but the aggrieved retirees rejected the offer that they will not accept any haircuts on their investments because their livelihoods depend on the proceeds from these investments.

Justice Akuffo unhappy with the government’s debt exchange programme involving the retirees joined them by holding a placard with inscription: “We use our bond yields to pay our: rents, medical bills, electricity, and water bills.”

However, a Deputy Finance Minister, Abena Osei Asare expressed excitement, the success rate chalked by the Debt Exchange Programme.

She mentioned that the programme has achieved 50 percent participation so far when speaking on Citi FM, expressing readiness of the government to achieve 80 percent participation in the domestic debt exchange programme.

“As of yesterday, when we decided to extend and grant that administrative window, we had done above 50 percent,” she stated.

She further stated that the government was very hopeful that more bondholders who were unable to tender their documents on Tuesday will complete the process before the new Friday deadline.

On Tuesday, February 7, 2023, government extended the deadline for bondholders to complete tender processes as part of the controversial domestic debt exchange programme.

The deadline for signing up for the programme expired on Tuesday, February 7, 2023, but the government in a late-night press statement said some of the bondholders faced “technical glitches as they tried to complete the online tender process” hence the window to enable such persons to complete the process.

The government has therefore extended the deadline to today February 10.

By Vincent Kubi