Government has settled all outstanding arrears owed to members of the Individual Bondholders’ Forum.

According to a statement issued by the Finance Ministry on Monday night, all coupons and principals due up to June 19 have been paid, and instructions for the payment of coupons up until July 10, 2023, have been given.

The Government expressed its commitment to continuously and constructively engage with the leadership of the Coalition of Individual Bondholders Groups (CIBG) and stressed its dedication to implementing the terms of the Memorandum of Understanding (MOU).

Members of the CIBG, comprising the Ghana Individual Bondholders Forum and the Individual Bondholders Association of Ghana, had planned to picket at the Finance Ministry to demand the payment of outstanding principals and coupons as the government failed to honour the agreed payment plan outlined in the MOU.

But, the government has honoured its commitment to settle all arrears on coupons for bonds maturing by May 31, 2023, and coupons falling due from June 1, 2023, in accordance with the terms of the MOU.

“The Ministry of Finance takes this opportunity to thank all bondholders for their continuous support during this period of tight liquidity. Government is confident that in working with all stakeholders, we shall restore macroeconomic stability, achieve inclusive economic growth, and transform the Republic”, the statement said.

Source: Ghana/