Government says processes for paying matured coupons on outstanding bonds commenced on Monday, March 13, 2023, and urged bondholders to expect such payments to hit their accounts within the next 48 hours.
This was captured in a statement issued by the Ministry of Finance on Tuesday, March 14.
“Government is pleased to announce that processes to settle payments on outstanding bonds commenced yesterday, 13th March 2023. The initial instruction covers coupon and principal payments on bonds that matured on 6th February 2023, and 13th February 2023. Holders of the afore-listed bonds should therefore expect to receive their payments within the next 48 hours”.
The Ministry of Finance announced that payment dates for subsequent maturities will be communicated in due course, as processing continues.
This announcement comes after the Coalition of Bondholders gave the government a 48-hour ultimatum to pay all their outstanding coupons or face their wrath.
“We are giving a 48-hour ultimatum to the Ministry of Finance to honour its word to pay all matured principal and outstanding coupons due on the existing bonds issued by the Government of Ghana. We call on the Securities and Exchange Commission and the Ghana Stock Exchange to enforce the rules of full disclosure required by all issuers including the Government of Ghana.
“We will fight to ensure the full payment of our monies and the preservation of our Securities Markets
for the future generation,” the group said in its statement.