The Pensioner Bondholders Forum is planning to file a petition with the Commission on Human Rights and Administrative Justice (CHRAJ) regarding the government’s refusal to pay accrued interest on outstanding principal payments.
During a meeting between the forum and the Ministry of Finance, the government declined the demand for interest on the four principals.
Dr. Adu Anane Antwi, the convener for the Pensioner Bondholders Forum, argued that if the principal amount remains unpaid, interest should be paid on it.
“We will need an arbiter, so we have suggested that we will submit the matter to CHRAJ for CHRAJ to tell us whether we have the right to do that or not. We will do an official letter to the government on the demand for the interest on the delayed principal, and then we know the response of the government, but the government must put it in writing.”
Meanwhile, the pensioner bondholders have resumed picketing at the Ministry of Finance after the government failed to fulfill its promise of settling five outstanding coupons, as indicated by Deputy Finance Minister Abena Osei Asare.
Abena Osei Asare last week implored the pensioners to temporarily halt their protest while the government actively seeks funds to fulfill their obligations.
She emphasized that the government is not intentionally neglecting the payment of outstanding coupons. Instead, the delay is primarily caused by the unavailability of funds and the prevailing economic crisis.
“We don’t intentionally stop them, sometimes it’s difficult, it is the ability to pay and so when it is not there it becomes a challenge, but we also have to communicate that to you. So, for now, our focus should be on the five outstanding, and then we talk about how we will manage the principal payment.”
“I sincerely appreciate where you are coming from. This has never happened when coupons are ready for payment and the government is struggling to pay, but currently, we all know the circumstances we find ourselves in, so I will plead with you so let’s sit and clear, and then we will see the way forward.”
