The Coalition of Individual Bondholders has given the Ministry of Finance a 48-hour ultimatum to pay all matured principal and outstanding coupons due on the existing bonds issued by the government.
The coalition made up of the Ghana Individual Bondholders Forum and Individual Bondholders Association of Ghana also slammed the Securities and Exchange Commission (SEC), Ghana, and the Ghana Fixed Income Market of the Ghana Stock Exchange for shirking their responsibilities and going mute on the development.
In a statement signed by the Convener, Dr. Joel Djangma Akwetey, the bondholders believe the Ministry of Finance, has disregarded all the basic rules that have been established to protect the integrity of the local markets and maintain sovereign credibility for Ghana.
The statement describes as unfortunate the ministry’s continuous disregard for its creditors, in this case, Individual bondholders, despite prior meetings held in which the need for communication was stated.
But sources close to the Finance Ministry said, processes for payment has begun.
